Abu Dhabi - Mubasher: Arkan Building Materials Company has appointed Hamad Abdulla Mohamed AlShorafa Alhammadi as the company's Chairman and Saeed Ghumran Saeed Salem Alremeithi as CEO.
Arkan has also appointed Jamal Salem Obaid Salem Al Dhaheri as Vice-Chairman, according to a bourse filing on Sunday.
This decision came following the formation of Arkan’s new board, announced on 4 November 2021.
The Chairman of Arkan, Alhammadi, said: "As homegrown manufacturers, we want to ensure that we are at the forefront of the UAE’s economic diversification strategy, whilst also expanding our presence in the region and globally. I would like to thank the Board of Directors and I look forward to working together."
Meanwhile, the Group CEO of Arkan, Alremeithi, commented: "The next phase is the integration process, bringing together two leading Abu Dhabi companies and positioning Arkan to become an entry point for investing in a key regional sector, all while contributing to ‘Operation 300 Billion’, the UAE’s Industrial Strategy."
It is noteworthy to mention that during the first nine months of 2021, the company recorded net losses of AED 29.19 million, up from AED 3.71 million in the year-ago period.
