DORMA steps up MidEast business activity
 DORMA steps up MidEast business activity
Purchase contract signed in the presence of Germany's federal chancellor
Ryadh, KSA. The DORMA Group is significantly expanding its business in the Middle East. In the presence of Chancellor Gerhard Schröder, Dr. Michael Schädlich, Chief Executive Officer of the DORMA Group, signed in Ryadh the purchase contract enabling DORMA to acquire a majority holding in a production facility in the Kingdom of Saudi Arabia. At the same time the DORMA CEO also announced the planned establishment of a subsidiary and the take-over of a service organisation in the door automation sector in the United Arabic Emirates (UAE).
The contracts will result in an increase in the DORMA shareholding in the DAAD joint venture (DORMA Arabia Automatic Doors Ltd.) from 49% to 75%. The establishment of this joint venture with the Saudi Al Zamil Group, Dammam, dates back to the year 2000. Al Zamil is a major industrial and trading concern focusing on the construction sector. DAAD headquartered in Dammam, Saudi Arabia, has in this short period to date developed into the region's market leader for the production and sale of automatic doors. The combination of the regional presence of Al Zamil and the technological know-how of DORMA has, according to Dr. Schädlich, been a significant contributory factor in this success.
"DORMA's purpose in acquiring a majority interest in DAAD is to be able to offer our products to our customers on a cross-divisional, single-source basis while operating hand-in-hand with DORMA Gulf Door Controls FZE in Dubai," emphasised the DORMA CEO in Ryadh. "In collaboration with the Al Zamil Group we shall be better able to undertake major projects and to exploit the major development opportunities that exist in this region."
As part of the same process, DAAD is to found a subsidiary in currently the region's fastest growing market of Dubai (UAE) and is in the process of acquiring an already well established sales and service network. This means that DAAD will be exceptionally well positioned in this booming economy. All these measures are, according to the DORMA CEO, expected to be in place by the end of 2003.
Caption: Dr. Michael Schädlich, CEO of the DORMA Group (right), and Sulaiman A. Al Zamil, Director of Hamed A. Al Zamil & Bros. Co. (left), with the German Federal Chancellor Gerhard Schröder after signing the contract.
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Caption: Dr. Michael Schädlich, CEO of the DORMA Group (right), and Sulaiman A. Al Zamil, Director of Hamed A. Al Zamil & Bros. Co. (left), with the German Federal Chancellor Gerhard Schröder after signing the contract.
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