RAK Ceramics

Manufacturing
UAE
RAK Ceramics

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"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)