Emaar Industries & Investments (EII), a subsidiary of Emaar Properties PJSC, has acquired a majority stake in Caparol LLC, the Dubai arm of German decorative paint manufacturer the Deutsche Amphibolin Werke (DAW) Group. The Caparol brand is the leading brand within the DAW Group.
With the partnership, EII takes its number of business subsidiaries to 13. As a strategic growth-facilitator, EII will now steer the market expansion of Caparol, which plans to move into Saudi Arabia, North Africa, Egypt and South East Asia. Dubai will serve as the regional hub of the company, and the production capacity will almost be doubled with the building of a new production facility, which will be the first major local investment of the new business.
Caparol, headquartered in Ober-Ramstadt, Germany with operations in over 50 markets around the world, has a turnover of approximately €1 billion. The Dubai operation, Caparol LLC, was established in 1998.
Published January 16, 2008
Related Paint & Coatings Manufacturer News
Related Breaking News