RAK Ceramics, a UAE-based manufacturer of lifestyle ceramics solutions, has announced that it has acquired the remaining eight percent minority share of its subsidiary, RAK India to fully own its Indian operations.
RAK Ceramics set up operations in India in 2006 to capitalise on rising demand, growing construction projects, high urbanisation rates and government direction towards sanitisation.
RAK Ceramics said in a statement that it has three production lines in India, with a current capacity of eight million sq m of tiles.
The announcement follows RAK Ceramics’ recent acquisition of 100 percent of its Iranian operations, a move to strengthen operations in the core markets of the UAE, Bangladesh and India.
In 2014, RAK India operations contributed 16 percent of total tiles sales volume and 13 percent of sanitaryware. RAK Ceramics announced recent capacity expansions in India by 52 percent for sanitaryware to reach 1.1 million pieces by 2016.
Abdallah Massaad, CEO of RAK Ceramics, said: “India is a strong market with great potential for us. It is among the fastest growing markets in the world and has witnessed a dramatically renewed optimism for its economic prospects with a rising demand for building materials and construction projects, a very promising sign for RAK Ceramics.”
RAK India is one of 15 plants owned and operated by RAK Ceramics globally, with one in Bangladesh, one in Iran and 12 in the UAE.
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