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FINANCIAL NEWS
UAE’s RAK Ceramics to sell Sudan business
26 Dec 2014
(MENAFN) RAK Ceramics, one of the world’s biggest makers of floor and wall tiles announced it is planning to sell its Sudan business, and use the generated money in expanding its capacity in the UAE, Gulf News reported.
The company said that it is currently in the negotiations stage to sell all its shares in RAK Ceramics Sudanese Investment Co, with the company planning to finish the sale by March 31.
At the same time, RAK Ceramics also said that it signed agreements to raise its annual sanitary ware capacity in the UAE by 500,000 pieces, which is a significant increase that will be added to its current production level of sanitary ware at plants around the world that exceeds 12,000 pieces per day.
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