The first copper tube manufacturing facility in Bahrain will create over 200 jobs
Manama, Kingdom of Bahrain, 5 April 2017: Mueller Middle East announces the commencement of construction of the first copper tube manufacturing facility in the Middle East region, which will address the increasing demand for quality copper tubes in the GCC market, create over 200 jobs, and have a positive impact on the local economy in the Kingdom of Bahrain.
The announcement follows a ground-breaking ceremony which was held at the Bahrain International Investment Park (“BIIP”) where the facility is currently under construction.
Mueller Middle East B.S.C. (c) was established in January 2016 as a Joint Venture between Bahrain Mumtalakat Holding Company (“Mumtalakat”), the investment arm of the Kingdom of Bahrain; Mueller Industries Inc. (“Mueller”), a leading manufacturer and distributor of flow control and industrial products listed on the NYSE; and Cayan Industrial Projects WLL (“Cayan”), a GCC-based industrial projects developer and investor.
The facility will produce commercial copper tubes to serve regional air conditioning and refrigeration original equipment manufacturers. It is the latest international company to sign a lease to establish a production facility in the Bahrain International Investment Park (BIIP). When it commences production in January 2018 it will be one of over 80 companies serving GCC and international markets from this strategic location. Bank ABC is the funding partner for the Joint Venture.
As part of the Joint Venture, Mueller Industries is localizing the technology and know-how of the production facility. Welcoming the investment H.E. Zayed R. Alzayani, Minister for Industry, Commerce and Tourism said, “This important investment, supported by Mumtalakat, represents a vote of confidence in Bahrain and BIIP as a highly competitive location from which to service regional and international markets.”
Commenting on this venture, Mr. Mahmood H. Alkooheji, Chief Executive Officer of Mumtalakat said, “It gives us great pleasure to see our partnership with Mueller Industries and Cayan Industrial Projects materialize. This investment is part of Mumtalakat’s continued efforts to partner with prominent international businesses which seek to expand their presence to the GCC through a platform in Bahrain.
Mumtalakat is committed to further developing the Kingdom’s non-oil sectors. Such investments are key to the continued development of our economy as the resulting technology, knowledge transfer and job creation will enhance productivity. Further, the copper tube mill will boost exports from the industrial sector, which currently accounts for 20% of Bahrain’s GDP.”
Ed Manning, CEO of Mueller Middle East said, “We are excited about this new industrial business in Bahrain, a great example of collaboration between international and local shareholders. We very much look forward to making a long term contribution to the local economy.”
Jonathan Robinson, Group Head of Wholesale Banking at Bank ABC, said, “We are delighted with the successful closing of this landmark transaction, the first of its kind in the Gulf region, and with the opportunity to support the investment of our close relationships with Mueller Middle East, Bahrain Mumtalakat Holding Company, and Cayan. Bank ABC remain committed to supporting trade and investment flows across our global network, with a strong product suite targeted towards our key clients. This facility will represent a significant contributor towards the Bahrain economy and we look forward to celebrating the commencement of production in early 2018.”
Legal advisors for Mueller Middle East B.S.C. (c) were Meysan Partners A.T and Legal advisors for Bank ABC were Baker & McKenzie (Bahrain).