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Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited
Emaar acquires majority stake in Caparol LLC
Article Type: Industry news From: Pigment & Resin Technology. Volume 37, Issue 3.
Emaar Industries & Investments (EII), a subsidiary of Emaar properties PJSC, has acquired a majority stake in Caparol LLC, the Dubai arm of the German Paint Manufacturer Deutsche Amphibolin Werke Group. With the partnership, EII takes its number of business subsidiaries to 13. As a strategic growth-facilitator, EII will steer the market expansion of Caparol, which plans to move into Saudi Arabia, North Africa, Egypt and South East Asia. Dubai will serve as the regional hub of the company, and the production capacity will almost be doubled with the building of a new production facility (this being the first major local investment of the new business). Caparol, headquartered in Ober-Ramstadt, Germany, has a turnover of approximately e1 billion. The Dubai operation, Caparol LLC, was established in 1998.