Unimech Aerospace and Manufacturing Limited has announced a joint venture agreement with Yusuf Bin Ahmed Kanoo Company Limited (YBAK) in Saudi Arabia. This collaboration aims to establish a joint venture company within Saudi Arabia, leveraging YBAK’s extensive experience and network in the Middle East. YBAK, founded in 1890, operates across multiple sectors, including logistics, industrial solutions, and real estate. This partnership is expected to enhance Unimech’s growth and market presence in the region.
Strategic Partnership Announced
Unimech Aerospace and Manufacturing Limited has formalized a Joint Venture Agreement with Yusuf Bin Ahmed Kanoo Company Limited (YBAK), a prominent group based in the Kingdom of Saudi Arabia. The primary objective is to establish a joint venture company located within Saudi Arabia.
About Yusuf Bin Ahmed Kanoo Company (YBAK)
YBAK, established in 1890, is one of the most respected and diversified family-owned businesses in the Middle East. With over 135 years of legacy, YBAK has a strong presence across various sectors including shipping & logistics, travel, industrial & energy solutions, machinery, chemicals, oil & gas services, power & water, and real estate. Their regional footprint extends across Saudi Arabia, Bahrain, UAE, Oman, and Qatar.
Expected Outcomes
Upon execution of the Joint Venture Agreement, Unimech Aerospace intends to disclose the key terms and relevant details of the collaboration. This partnership is expected to create significant opportunities for Unimech Aerospace and Manufacturing Limited to expand its reach and capabilities within the Saudi Arabian market.
Source: BSE
