Oman-based National Mineral Water Company said it has reached an agreement with Horizon Technologies to sell its entire 53.5 per cent stake in the company to Sabco Group, a leading family-owned business house comprising multi-faceted direct and associate firms.

Set up in the 70s, Sabco Group has now grown into an integrated investment, commercial, industrial and services organisation.

The company, through its subsidiaries, engages in real estate development for property investors and homeowners; processes and recycles used PET bottles into food and non-food grade plastic packaging products in the UAE; and produces and supplies natural mineral bottled water. It also produces abrasives for surface preparation to ship and off shore yards, oil and gas companies.

Horizon Technologies, a company of Sabco, employs best-in-class technologies and processes to convert used PET bottles into a range of food and non-food grade plastic products.

The company has set up a PET recycling facility complete with Pelletizer, APET Sheet, numerous thermoforming containers and bottle manufacturing unit within the Fujairah free trade zone in UAE.-TradeArabia News Service