UAE-based RAK Ceramics has announced that it now has complete control of both its British and German units following the acquisition of the remaining shares for both subsidiaries.
Complementing this move, RAK Ceramics announced the appointment of a new leadership team to head its core European operations.
RAK Ceramics exports approximately 70 percent of the output that it produces in the UAE, most of which are dispatched to markets in Europe and Saudi Arabia.
At the end of Q3 2015, total net sales from Europe for tiles and sanitaryware reached AED248 million.
The move is expected to support RAK Ceramics as it grows within Europe’s high-value markets and further consolidates the interests of its global operations, a statement said.
Alvin Biggs has been appointed as managing director for RAK UK, Math Rietrae has been appointed as general manager of RAK Ceramics’ Central Europe division, based in Germany, while Søren Hougaard will head the North Europe division, based in Denmark.
Abdallah Massaad, Group CEO at RAK Ceramics, said: “We are excited to have strengthened our presence in the UK and Europe. These recent acquisitions and new management appointments reflect the success of our refocused strategy.
“We are confident in our ability to enhance margins in the long-run and become a strong global competitor, strengthening our position within the ceramics industry around the world.”
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