RAK Ceramics

RAK Ceramics

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"Ras Al Khaimah-based RAK Ceramics has said it wants to expand its manufacturing operations in Iran. According to a report from The National, the Abu Dhabi-listed company fully acquired its Iranian business last August, which was financed by the World Bank when it started in 2003. Nour Eldeen Sherif, an equity analyst at Cairo’s MubasherTrade, said: “Iranian operations are on hold until the company can provide financing facilities for its plant in Iran, but the banks are too shy to deal with the banking sector there. “Once this issue is handled, we expect operations to gradually recover as the Iranian ceramics market is huge and promising.”" (August 9, 2016).


"UAE-based RAK Ceramics, one of the world's largest makers of ceramic goods, said on Wednesday it had fully acquired its subsidiary in Iran, the latest investor seeking opportunities after Tehran's nuclear deal. As a close neighbour to Iran, the UAE stands to be a major beneficiary of closer trade relations once sanctions against the Islamic Republic are lifted as part of the July 14 deal with big powers mandating limits on its disputed nuclear activity. RAK Ceramics, which has a distribution network covering around 160 countries, said in a statement it had 'a long term vision for the Iranian market both domestically and as an export centre in Central Asia as the sanctions regime gets lifted'." (Arabian Business, "UAE's RAK Ceramics fully acquires Iran unit," 8/5/15)