UK materials supplier to move into UAE's Kizad
Morgan Advanced Materials, a UK provider of high specification engineered products, has signed a 30-year Musataha agreement to set up a manufacturing plant in Khalifa Industrial Zone Abu Dhabi (Kizad).
The firm will put forward an initial AED50mn ($132.6mn) investment in the facility, which is to be spread over a 426,812ft2 plot of land in the industrial zone's base metals cluster.
It is expected to start operations next year and will be focusing on the production of products to be used in various market sectors, such as aluminium, electronics, energy, transportation, petrochemicals, healthcare, and fire protection.
Engineer Khaled Salmeen, CEO, Kizad, said: "We are delighted to welcome a further high profile international investor to our industrial zone. With their extensive product range that will cater to a vast number of industries in Kizad and the wider GCC region, Morgan Advanced Materials will benefit from our integrated vertical clustering, economies of proximity, and unparalleled market access through our flagship deepwater Khalifa Port."
Ian Robb, regional president for Morgan Advanced Materials, said: "The Middle East is a very attractive market place for us. Growth in the economy is driving demand from industries, such as aluminium, petrochemicals and energy, where our products and services provide differentiated solutions. With a pro-business environment, low utility costs, and excellent multimodal transportation network, Kizad offers the perfect framework to further develop and grow our business."
Based in Windsor, England, and founded in 1856, Morgan Advanced Materials is listed on the London Stock Exchange in the engineering sector. The company has a global presence of over 9,000 employees, manufacturing in more than 30 countries, and serves customers in more than 100.