20.06.2016

KBW and Ascorel team up

he owner of Raimondi Tower cranes, KBW Investments and French anti-collision and load indicator manufacturer Ascorel have formed a joint venture for the Middle East.

The agreement, which will see the formation of Ascorel Middle East, was signed in Dubai by KBW chief executive Ahmed Alkhoshaibi and Ascorel president Francis-Pierre Lemahieu. The new operation will sell and distribute Ascorel products throughout the Middle East and North Africa. It is expected to be operational by August and will be based at KBW Investments headquarters in Dubai.

Alkhoshaibi said: “The establishment of the partnership between KBW Investments and Ascorel group builds on a long-standing and mutually successful relationship between our two entities. Raimondi Cranes, has worked closely with Ascorel for many years and the integration of Ascorel technologies into the Raimondi Cranes framework has given us ample experience with the company, and has allowed us to confidently unite for this new venture that targets the Middle East”.

Jean-Yves Billon chief executive of Ascorel and Ascotronics added: “Ascorel’s range of products, services and after-sale attention will now be made available in the Middle East and North Africa region through the establishment of Ascorel Middle East. The new partnership with KBW Investments will allow for greater international reach and market penetration, given the company’s strong regional foothold and diverse presence in the construction and manufacturing sectors.We are looking forward to strengthening our Middle East market share, and have planned to devote significant resources to this exciting time in Ascorel’s history.”