Mumtalakat to invest in Racing Force to drive Bahrain expansion

Saturday 29 June 2024

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Shaikh Abdulla bin Khalifa Al Khalifa

Mumtalakat to invest in Racing Force to drive Bahrain expansion

MANAMA, 2 days ago

Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain, on Wednesday announced an investment through a fully owned subsidiary in Racing Force, parent company of Racing Force Group.

Racing Force Group is a world leader in safety systems for motorsports, to address the growing global market demand for motorsports safety products.

This investment coincides with the expansion plans of Racing Force Group of its current Bell Racing Helmets factory in Bahrain, which was established in 2014. Furthermore, it is in line with the group's strategic plans to explore opportunities for growth in Bahrain through the introduction of new brands and a wider range of products.

Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, emphasised that the collaboration with Racing Force to expand their footprint in Bahrain aligns with Mumtalakat's strategic objectives of investing in growth sectors that aim to create highly skilled job opportunities for Bahrainis.

He said it is also to boost the competitiveness of the kingdom's specialised industrial sector on a global scale, and enhance Bahrain's prominence as a motorsports hub in the region.

It is noteworthy that the Racing Force Group's Bell Racing Helmets facility in Bahrain has employed 400 Bahrainis since its establishment.

Furthermore, all Bell Racing Helmets products are entirely “Made in Bahrain”.

Since its launch, it produced and exported 254,000 helmets, 286,000 Mini Helmets, and over 500,000 accessories, highlighting the kingdom's manufacturing competitiveness on the global stage. – TradeArabia News Service