Nitin Fire Protection Industries Ltd on April 04, 2008 has announced that the Company has acquired 40% stake in a Dubai based fire protection Company New Age Company LLC. The stake has been taken in the Companys 100% subsidiary Nitin Venture FZE, UAE.
New Age Company LLC, a professional fire protection engineering Company providing equipments, established in 1976 at UAE. It has office and representation in Abu Dhabi, Dubai, Sharjah, with experience in Installation in all Seven Emirates. The Company is engaged in fire protection system, fire detection system, emergency lighting system, water mist fire protection system, the entire activity includes supply and installation, testing and commissioning of equipment system and maintenance with same wide range of experience in commercial and residence complex, industrial warehouses, schools, govt. offices with over three decades of experience in UAE and wide range of installed base.
New Age Company has taken several projects like Municipality, Airport Development Board, Port Authority, Telecommunication Sites, Cement Plant, Ministry of Education and Civil Defence. It has also got major local civil defence license and registrations with staff over 100 personnel employed by the Company.
For year ending financial year 2007-08, the Company made Net Sales of 44 Cr and Net Profit 17%. On this Acquisition CMD comments that this acquisition shall give Company good boost in UAE Market. The Company expects 20 to 25% growth year on year in this Company.
New Age Company LLC, a professional fire protection engineering Company providing equipments, established in 1976 at UAE. It has office and representation in Abu Dhabi, Dubai, Sharjah, with experience in Installation in all Seven Emirates. The Company is engaged in fire protection system, fire detection system, emergency lighting system, water mist fire protection system, the entire activity includes supply and installation, testing and commissioning of equipment system and maintenance with same wide range of experience in commercial and residence complex, industrial warehouses, schools, govt. offices with over three decades of experience in UAE and wide range of installed base.
New Age Company has taken several projects like Municipality, Airport Development Board, Port Authority, Telecommunication Sites, Cement Plant, Ministry of Education and Civil Defence. It has also got major local civil defence license and registrations with staff over 100 personnel employed by the Company.
For year ending financial year 2007-08, the Company made Net Sales of 44 Cr and Net Profit 17%. On this Acquisition CMD comments that this acquisition shall give Company good boost in UAE Market. The Company expects 20 to 25% growth year on year in this Company.
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