Streit Group, the world’s largest armoured vehicles manufacturer, in a major move has signed a land lease that will triple the size of its facilities at the Ras Al Khaimah Free Trade Zone (RAK FTZ) to 4.5 million sq ft.
This expansion from 1.4 million sq ft to 4.5 million sq ft, will allow the company to boost its production from 1,450 units to 1,500 units per year, and to increase the number of its employees from 648 to 1,000 by the end of the year.
The mega facility will also include a larger employee accommodation, a glass factory, pre-fabrication facilities, fuelling stations, a helipad, and support manufacturing facilities. Established in 1996 in Canada with only a handful of tools and a rented garage, Streit presently operates in over 100 countries, with 25 global offices and 12 manufacturing facilities worldwide. The company expanded to RAK FTZ’s Technology Park in 2006.
Imran Cheema, the Director of the Client Relations Department of RAK FTZ, said: “Streit Group’s massive expansion in RAK FTZ demonstrates that the free zone’s world-class facilities and award-winning services can help not only small and medium-sized companies to grow, but can also enable the expansion of very large enterprises.”
According to him, Streit has become one of the free zone's most valued partners, contributing greatly to Ras Al Khaimah’s growth by showcasing its top-quality products and services.
«This expansion also highlights Ras Al Khaimah as a global hub of the armoured vehicles manufacturing industry. RAK FTZ congratulates Streit Group on its tremendous growth, » he added.
Guerman Goutorov, the founder and CEO of Streit Group of Companies, said: "Ras Al Khaimah has a very convenient location in terms of logistics and transportation, and the RAK Free Trade Zone offers great services as well as flexible terms. »
«We are now in the process of constructing a new manufacturing facility for the production of the bullet-proof glass as well as finalising the plans for our new anti-terrorist training centre, where we will offer our customers specialised training in areas such as security, close protection, law enforcement, and both off-road and on-road driving, » he stated.
RAK FTZ, he added, has proven to be an ideal partner in Streit's growth over the years in the UAE, and has always supported its vision for meeting and exceeding the world’s growing demand for security.