Finland-based Peikko Group Corporation, a leading supplier of concrete connections and composite structures, said it has acquired a new 11,500-sq-m industrial plot at Al Hamra Industrial Zone in the northern emirate of Ras Al Khaimah.

Finland-based Peikko Group Corporation, a leading global supplier of concrete connections and composite structures, said that it has acquired a new 11,500-sq-m industrial plot at Al Hamra Industrial Zone within Ras Al Khaimah Economic Zone (Rakez)

Rakez is a world-class authority established to oversee, regulate and consolidate the services and facilities of its free zones including Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (Rakia).

The signing ceremony was held at Rakez’s headquarters in the presence of Sheikh Ahmed bin Saqr Al Qasimi, chairman of Rakez, and Topi Paananen, CEO of Peikko Group Corporation, said a statement from the company.

The newly leased land, which is in close proximity to Peikko’s existing 2,800 sq m premises, will comprise a warehouse and a factory, said a statement from Rakez.

The design and planning for the new factory will start immediately and it is expected to commence operations by the end of 2018, revealed Paananen after signing the deal with Ramy Jallad, group chief executive officer of Rakez in the presence of Sheikh Ahmed bin Saqr Al Qasimi, the chairman of Rakez.

“Operating in the Gulf region from the strategically important location of Ras Al Khaimah has been an excellent choice for our company,” observed Paananen.

“Rakez has provided us with continuous support, and our aim is to increase our growth remarkably in the Middle East,” he stated.

“The new factory will enable large-scale production as well as faster and more flexible customer service in the region,” he added.

Jallad said: "We are very proud of this development as it characterises Peikko Group Corporation’s incredible journey in the business-friendly environment of Rakez."

"Since its inception in 2010, we have been witnessing Peikko’s persistent operational growth," stated Jallad.

"At Rakez, we value the success of our clients and we always ensure to provide them with continuous guidance and support through our premium services and customer-centric business solutions that are second to none," he added.-TradeArabia News Service