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Uniceramic, a company incorporated under the laws of Bahrain, was created in 2007 with the vision of building it into a MENA region-based international player in the ceramic tiles and sanitarywares industry, leveraging the cost-competitiveness of the MENA region in the sector and growing demand across the region.
Since its inception in 2004, Powergres has grown to be renowned for its trend- leading designs and world-class product quality, having succeeded in building a strong brand and international distribution capabilities.
Nabil Triki, Head of Private Equity at Swicorp, said:
"The MENA region continues to be among the most attractive regions globally as relates to the ceramics industry. In a market experiencing steady growth and blessed with a competitive cost structure, the addition of Powergres to Uniceramic's portfolio of investments will enable us to extend our distribution capabilities beyond the MENA region and acquire world-class know-how in the areas of design and manufacturing". Hassen Marzouk, who led the execution of the transaction and will represent Intaj on the Powergres Board of Directors, added: "Powergres has built a successful business model in a relatively short timeframe. We are confident the complementary strengths of Uniceramic and Powergres will take us a step further in achieving the initial objectives we had laid out for the company"
Donato Mancini, CEO of Powergres, said: "This integration of Powergres within Uniceramic will enable the company to consolidate its position, providing it with access to the financial resources and competitive-cost manufacturing platforms of Uniceramic in the MENA region".
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Posted by Rima Ali Al Mashni
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