Anchor Allied Plans AED26 Million Expansion for Sharjah Manufacturing Plant

Increased Demand for Speciality Aerosols Drives Growth for Sealants and Adhesives Division of Masharie Subsidiary

Dubai-UAE: 15 February, 2011 – Anchor Allied, the largest manufacturer of adhesive tapes and specialty adhesives in the Middle East and a subsidiary of Masharie, the private equity arm of Dubai Investments PSJC (‘DI’), today announced plans to invest AED26 million in the expansion of its factory in Sharjah.

The expansion process that is split into two phases is set to be completed in May 2011 and will give the plant additional capacity to produce new products within the specialty aerosols, adhesives and sealants space.

Anchor Allied’s move is in response to greater demand for the products from Central and South Africa as well as Eastern Europe. The expansion will also result in adding 60 new jobs for factory floor staff.

Mustafa Kachwala, General Manager of Anchor Allied, said: “Anchor Allied remains focused on consolidating its position as the largest manufacturer of adhesives and sealants in the Middle East. This project expansion that is in line with our corporate growth strategy reaffirms our commitment to increasing our presence across categories that are in high demand.

“Once the expansion is complete, we will have the capacity to produce over 18 million additional cans of aerosols per year from our Sharjah factory and cater to new markets.”

Anchor Allied has been at the forefront of the industry through introducing innovative products and solutions, which include its range of weather sealants – ASMACO 2670 – that was launched in October 2010. It has consistently adhered to high industry standards, obtaining certification from recognised international regulators for its product range.

With high quality, durable silicone-based products that offer versatile solutions across various industry sectors and a structured approach to growth, backed by Masharie, Anchor Allied is well poised to continue registering robust revenue growth.

About Anchor Allied (Boilerplate also needs to be reviewed)

Established in 1995, Anchor Allied is a market leader in the adhesive tapes and specialty adhesive industry and  is currently the lead manufacturer of sealants, aerosol spray paints, insecticides and automotive-care products. Operating through a large network of distributors, Anchor Allied retails its leading brand ASMACO across all GCC countries, as well as the Indian sub-continent, East Europe, US, Africa and the CIS countries.

Anchor Allied Factory Ltd. is a subsidiary of Masharie, which is the private equity arm of Dubai Investments PJSC (‘DI’). For enquiries, please visit us on www.anchorallied.com