Taghleef Industries Continues to Grow with New Joint venture partnership with SHORKO Australia
14 February 2008
Taghleef Industries announces a joint venture partnership with SHORKO Australia by acquiring 50% of the equity shares from Hastings Funds Management. The joint venture became effective on December 31st 2007.
"This is another important step for Ti to grow and establish itself among the top players in the industry. We intend to utilize Shorko as a springboard into the Asian market which has become the largest market for BoPP," commented Dr Detlef Schuhmann, CEO of Ti.
ABOUT TAGHLEEF INDUSTRIES
Headquartered in Dubai, Ti develops, manufactures and markets BoPP (bi-oriented polypropylene) and CPP (Cast Polypropylene) films for packaging applications. Ti offers its customers in more than 50 countries a portfolio of high quality transparent, white opaque and metallised polypropylene films.
Currently the group operates production sites in Dubai, Egypt and Oman with a total capacity of around 100,000 tons. Strongly committed to solidify its place as world-class player in the industry, Ti will take into operation a new production line at its Oman's site in 2008. The additional capacity of 35,000 tons will fuel the growth in its various sales regions.
