BELGRADE (Serbia), November 29 (SeeNews) – UAE-based Mulk Holdings plans to invest 20 million euro ($21.2 million) in upgrading its metal composite panel factory in the northern Serbian province of Vojvodina, the Vojvodina authorities said on Tuesday.
The company intends to expand the existing factory in Vojvodina and to build a second one, opening between 80 and 100 jobs, the president of Vojvodina autonomous province government, Igor Mirovic, said in a statement.
Shaji Ul Mulk, the president of Mulk Holdings, has assured that the plans for the factory's expansion will be ready in January, Mirovic said during his official visit to UAE's Ajman emirate.
Mulk Holdings launched the factory in Banatski Karlovac in Vojvodina in November 2012. It produces and supplies aluminium composite panels under the Alubond USA brand and is operated by Mulk Holdings' Serbian subsidiary Alubond Europe.
The UAE-based group is active in USA, Africa and the Middle East. Mulk Holdings’ flagship brand Alubond USA is among the leaders on the composite brands with a presence in 90 countries.
($=0.9148 euro)