Dubai : Depa, one of the world's leading interior contracting companies, yesterday said it has wholly acquired Carrara Mid East Industrial, one of the region's first and the market's leading producer and installer of high quality stone.
Carrara operations include three state-of-the-art facilities in the UAE which serve the Middle East, India, and Africa at the high quality level with which the company's brand has become associated.
Hadi Al Solh, Depa's Managing Director of Investments, commented on the deal, "Carrara is a well-known marble producer with an enviable track record of over three decades in the region.
"This acquisition is another important step in our long-standing vertical integration strategy of acquiring leading suppliers in our core business markets.
"We already have a close working relationship with Carrara having both worked on key iconic projects such as Burj Khalifa and Burj Al Arab.
"There are strong synergies between Depa and Carrara which will be unlocked as a result of this transaction, particularly given that the majority of our projects have stone requirements.
"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."
Earning revenues of Dh150 million in 2009, Carrara has become a major regional player over the years and serves high-profile clients as far as Europe, South Africa and East Asia.
Its clients include multinational and regional contractors such as Bouygues Batiment International, Besix, Nasa Multiplex, Saudi Oger, Arabtec, Al Futtaim Carillion, Laing O'Rourke, Al Naboodah Contracting, and Al Darwish Engineering.
Meeting demand
Recently, Carrara carried out the supply and installation of about 120,000 square metres of natural stone for the Burj Khalifa project.
Its work portfolio includes major regional and international projects such as Burj Al Arab, Royal Mirage Hotel, Mall of the Emirates, Dubai Festival City and Deira City Centre, among others.
Michel Melki, General Manager of Carrara, said: "Carrara's corporate mission has always been to build a market leading company offering the highest quality of imported stone and manufacturing workmanship, for both natural and agglomerated stone, as well as the highest standards of installation with a particular focus on supply and installation for prestigious projects."
