Streit Group transforms global production capabilities with opening of world’s biggest privately-owned armoured vehicle plant at Ras Al Khaimah
Streit Group - the largest privately-owned vehicle armouring company - announces that His Highness Sheikh Saud Bin Saqr Al Qasimi, Member of the UAE Supreme Council and the Ruler of Ras Al Khaimah, has officially opened its huge new armoured vehicle factory at Ras Al Khaimah in the United Arab Emirates (UAE). The advanced production facility at the Technology Park in the RAK Free Trade Zone represents a major landmark for the fast-growing Streit Group and follows an investment of $21.8 million (AED 80 million). At 1.4 million sq feet the factory ranks as the world's biggest privately-owned facility and more than doubles Streit's existing production capacity.
The unveiling of the facility at Ras Al Khaimah, earlier this month, in front of invited dignitaries and local media, signals the completion of the first phase of an ambitious three-phase project for Streit Group which eventually will be worth $54.4 million (AED 200 million) and see employee numbers in the multi-national workforce rise from an initial 400 to over 2,000. The factory conveniently brings together a host of design, research and development, manufacturing, testing, training, and storage facilities on one site. These range from a state-of-the-art vehicle test track to specialised CNC (Computer Numerically Controlled) laser-cutting technology and automated and semi-automated production lines.
Phases two and three of the project, estimated at over $32.7 million (AED 120 million) cumulatively, are to include a glass factory, pre-fabrication facilities, expansion of employee accommodation, fuelling stations, helipad, and manufacturing support. These are scheduled for completion by 2014.
Speaking during the official opening, HH Sheikh Saud said: "To have the world's largest privately-owned armoured vehicle facility is an achievement for the UAE and Ras Al Khaimah. We have always believed in putting our best efforts towards supporting our local economy by attracting big business and investment to the UAE and we are happy to have this facility of Streit Group here at RAK FTZ."
The new facility is by far and away Streit's most significant in its 20 year history. Part of the company's forward-thinking business plan, the investment at Ras Al Khaimah is designed to secure Streit's position as the unchallenged leader in customized security and civil armoured vehicles.
Streit Group's Chairman, Guerman Goutorov is enthusiastic about the capability that the facility's opening delivers for the business: "Immediately the new factory gives us the potential to support 40 vehicle types from concept to completion - all the way from the input of steel sheets to the finished product - which links in with our drive for engineering excellence. We anticipate much reduced lead times for customers and initially an output rate of 250 vehicles a month under normal loads. Significantly, there is the capability to go up to 400 units should the need arise. This means that we will be well placed to fulfil the estimated $40.8 million (AED 150 million) worth of sales we expect to achieve as a Group over the next five years."
Today the armoured vehicle solutions available to Streit Group's customers range from cash-in-transit vehicles - a growing sector in the Middle East region - to law-enforcement, personal protection and tactical unit vehicles. The Ras Al Khaimah plant will provide an enhanced potential for Streit to up-armour existing civilian platforms such as custom luxury sedans and SUVs. Moving forward, using the new facility as a launch pad, Streit plans to increase its focus on the military vehicle market, with an enhanced range of personnel carriers, and is well placed to cater for the greater demand for vehicles that can protect aid agency staff in some of the world's most dangerous conflict zones. The new factory will also help to support the roll-out of a planned new range of military police vehicles."