Arabians are coming to Banatski Karlovac - Mulk holdings to invest EUR 20 mil in production of composite panels and color coated coils

The story of a large investment of the multinational group Mulk holdings,headquartered in Saudi Arabia, would probably have happy ending. The site of the multinational company points out Mulk holdings acquired a large 10 acre asset in Serbia and announced a large investment of USD 20 mil.

They say that the facility situated in Banatski Karlovcu will a state-of-the art production facility with a 3,000 square meters office and showroom space and 10,000 square meters of production area which will be build in several phases. The facility will be equipped with a fully automated three coat coating line and a high speed double extruder composite panel production line. The new factory will have a capacity of 3 million m2 of fire rated metal composite panels and 10,000 tons of color coated coils.

Mr. Shaji Ul Mulk, the Chairman of Mulk Holdings International said the investment in Europe started last year with the Pancevo-based Alubond Europe set up in a leased facility.

- We have carried out the investment in Europe last year, during current global recession and surprised many by this aggressive move. I am lucky to have capable leaders like Sanja Uzelac and Violeta Svilokos who have shown exemplary commitment and drive to make Alubond Europe a success story - Shaji Ul Mulk said.

He added they expect new government to provide convenient loans and stimulative tax policy and panels from Banatski Karlovac have been produced for the whole Europe.

-Our new expansion will generate employment opportunities and further investment which would additionally help government in its aims to promote international investment and improve the economic standards of the local municipality. - Sanja Uzelac, General Manager of Alubond Europe said, adding that their products have been becoming more popular in Europe due to high quality and low prices.

Violeta Svilokos, the Sales Manager said the facility based in Serbia provides many strategic advantages since Serbia has free trade agreements with the European Union, Turkey, Russia. She added it gave a competitive advantage in these markets and pointed out they had great team in Banatski Karlovac and that they were very excited to be moving into their own facility.