H Sheikh Saud Bin Saqr Al Qasimi Inaugurates AED300 Million Streit Group facilities

New development will open up domestic and international markets for STREIT Group

Ras Al Khaimah – 26 February 2015: Under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, STREIT Group, the world’s leading manufacturer of armoured vehicles, has inaugurated Phase two of the world’s largest industrial park for armoured vehicles industry at the Technology Park of RAK Free Trade Zone (RAK FTZ) in Al Hamra area.

The facility includes the Armoured Protection Glass (APG) factory for safety and bullet proof glass production, a state-of-the-art research and development centre, international parts distribution warehouse and Canadian Safety Solutions Training Centre.

The inauguration marks the completion of the second phase of expansion planned by STREIT Group, and will be added to the armoured vehicle manufacturing facility which is already operational.

In a statement, H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, said that the opening of the new factory marks a milestone achievement for the industrial sector in the UAE in general, and in Ras Al Khaimah in particular, and will be a mainstay of the UAE economy.

H.H. Sheikh Saud reiterated his keenness to pursue the mission of supporting the UAE economy by attracting international investment to the country. This would make a significant contribution to the development of the UAE economy and create important jobs for the nation.

H.H. Sheikh Saud added: “The Emirate of Ras Al Khaimah is characterized by its strategic location, advanced infrastructure and outstanding facilities for logistics operations, which contribute to facilitating import and export operations, offering access to raw materials and export products to locations all over the world.”

Guerman Goutorov, Chairman and CEO of Streit Group, said that the opening of Phase Two of the armoured vehicle facility is a new step in the Group's strategy to expand its investments in Ras Al Khaimah. This will be followed by other initiatives in the near future.

He further stated that the new facility will contribute to increasing the manufacturing capacity of the factory to up to 400 armoured vehicles per month given normal workload. However, this capacity can be raised to 500 units when required. The production will be carried out in accordance with the highest standards.

Goutorov added: “This initiative will help with providing a wide range of armoured vehicle production options for different uses in the region. It will also help meet large orders, since STREIT Group looks forward to further expansion.”

He pointed out that following the opening of the new facility, the number of employees in STREIT Group will rise, following the completion of all expansions in the future, this number is expected to increase to up to nearly 2,000 employees.

Peter J Fort, CEO, Ras Al Khaimah Free Trade Zone (RAK FTZ), noted the Armored Glass Factory was only the latest development in Streit Group’s highly successful expansion at RAK FTZ over the last decade.

“We congratulate Streit Group on the opening of its ballistic glass factory and are gratified that once again we were able to provide the comprehensive, high-quality, client centric support that enables our clients to dedicate their attention to their own business growth and success,” Mr Fort said. “Streit signed an additional land lease with RAK FTZ last year, tripling the size of its facilities, including warehouses and land, to nearly 5 million square feet. The growing cluster of armoured vehicle manufacturers and related security industry sectors that Streit leads at RAK FTZ are strengthening Ras Al Khaimah’s reputation as a fast-growing regional centre of industrial manufacturing.”

Mr Fort continued: “RAK FTZ is focused on further expanding this increasingly important sector, which includes manufacturers of armoured fire-fighting equipment, protective garments and vests, security devices and equipment, safety glass as well as other related industries. The remarkable growth and success of Streit Group demonstrates that RAK FTZ is not only able to help small and medium-sized companies set up and grow, but can also accelerate the profitable expansion of large corporations.”

The total investment of the project is over AED300 million and consists of three phases. It covers 8,000 square metres in surface area. STREIT Group intends to expand with additional 7,500 square metres to the complex in the future, in order to serve increasing demands, both in domestic and global markets.

The armoured vehicle factory is part of Phase One of the project and was completed in April 2012, with an investment of Dh100 million. The factory produces 120 different models of commercial, cash-in-transit, semi-military and military armoured vehicles.

Phase Two, which is being inaugurated was successfully completed in 2014, with an investment of Dh100 million. With the completion of Phase Two, STREIT Group’s workforce reached 800 employees, completed Dh200 million of investment, covered a one million square feet area of built-up facilities, and developed an area of 5 million square feet.

Phase Two will help STREIT Group expand its business into new markets, allowing bringing and implementing new technologies with composite materials. It will also help the company achieve its goal of the 360 Degrees Security Solutions, which will be provided to STREIT Group’s clients.

The APG factory is equipped with the latest European technologies and apparatus necessary for the manufacture of glass, and in accordance with the highest international standards. Particular attention has been paid to the Computer Numerically Controlled (CNC) laser-cutting technology, with automated and semi-automated production lines which are compatible with this technology.

The R&D centre at the APG factory allows the company to develop new vehicles and bring about new technologies, such as the CNC robotic technology.

The international parts distribution warehouse will help STREIT Group develop new assembly plants, which are required by different governments in various countries. It will also make STREIT Group more efficient and mobile to expand worldwide.

It is expected that Phase Three of the project will be completed in 2016 and will entail a workforce expansion.

STREIT Group aims not only to manufacture armoured vehicles, but also to use the technology and experience to help countries defend themselves from external threats and internal situations.

The STREIT Group plant is sufficiently large to enable the storage of 120 million auto parts in the warehousing facility. It also comprises a multinational workforce from over 20 countries. All work procedures at the Group’s factories are ISO certified.