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GGICO acquires Quality
DUBAI — Gulf General Investment Company (GGICO) has acquired Quality International Company Ltd, a regional manufacturer of equipment for the oil and gas industry, as part of expansion but refused to provide more details.
"This acquisition is part of our ongoing growth and in line with the Board of Directors' approval for acquisition," said Mohammed Abdalla Juma Al Sari, the managing director of GGICO, which has at least 30 subsidiaries and affiliates.
GGICO expects a turnover of Dh500 million by 2009 for Quality International, which specialises in design, detailed engineering, procurement, fabrication, supply and site installation of pressure vessels, reactors and columns, heat exchangers and all types of tanks and tank farms, among others.
"Joining with a reputable leading group like GGICO helps us to attain our target to continue growing on a global scale," said Shashi Ramakrishnan, the managing director of Quality International.
GGICO has investments in the manufacturing and industrial sector, investment and brokerage, real estate, retail, trading, transport, services and hospitality. n
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