AWC Facility Solutions Bhd, an intergrated facilities management provider, is set to enter the Middle East market with the 100 percent acquisition of a United Arab Emirates based company, Stream FZC for about RM90,000.
Group managing director, Azmir Merican said the acquisition via its 51 percent subsidiary, Nexaldes Sdn Bhd, would allow the company to jumpstart its presence in the high-growth market.
Stream FZC is engaged in the busines of supplying and installing an automated waste collection system called 'Stream', as well as trading in building materials, environment protection equipment, pumps, engines, valves and spare parts.
According to Azmir, Stream FZC was recently awarded a RM46.8 million project to design, supply and install 'Stream' for a property development at AL-Reem Island in Abu Dhabi by Tamouh, a leading developer in the UAE.
The project is expected to be completed by the end of 2009.
"Upon completion of this Abu Dhabi project, we hope to continue building on this reference site and our brand name, to tap into the opportunities in the Middle East," he said. |