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Sun 21 Mar 2010 12:23 PM

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Depa buys out marble producer Carrara

Carrara has more than 1,000 employees and posted revenues of $41m in 2009.

Depa buys out marble producer Carrara
HIGH HOPES: Both Depa and Carrara worked on the Burj Khalifa project. (GETTY IMAGES)

Fit-out firm Depa, which carried out interior work on the Burj Khalifa, has wholly acquired a local marble contracting firm Carrara Middle East Industrial.

A company spokesperson told Arabian Business on Sunday that the value of the deal was not being disclosed.

Founded over 30 years ago, Carrara has more than 1,000 employees and posted revenues of $41m in 2009.

The firm’s operations also include three facilities in the UAE. Carrara also provided 120,000 square metres of stone for the Burj Khalifa project.

“This acquisition is another important step in our longstanding vertical integration strategy of acquiring leading suppliers in our core business markets,” said Hadi El-Solh, managing director of investments for Depa.

“Furthermore, Depa will provide the necessary support to continue Carrara’s international expansion drive to serve clients outside of Depa, in growing markets such as Saudi Arabia, India, and even Azerbaijan and Nigeria.”

Aside from the Burj Khalifa, Carrara has also provided stone for the Burj Al Arab and the Mall of the Emirates, and has worked with contractors as diverse as Arabtec, Saudi Oger and Al Futtaim Carillion.

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