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Aspire launches its operations from Dubai Multi Commodities Centre

United Arab Emirates: Monday, October 29 - 2007 @ 12:03

Hammer Group, with nearly 150 years experience, is the largest multinational German jewellery group in the world, currently manufacturing and distributing to over 4500 retail outlets over 250 cities globally. Their sales offices have some of the world’s best selling agents and merchandisers on the team and have become market leaders in their own countries. This division of the group owns three major manufacturing facilities in Bangkok, Mumbai and Pforzheim, employing more than 1200 people producing over 2 million pieces of superbly crafted jewellery products each year.

Kareemo Ltd. is the holding company of several jewellery entities involved in designing, manufacturing and retailing gold, diamonds and jewellery watches in wholesale and retail across the Arabian Gulf.

Aspire DMCC will be designing, manufacturing and producing high end jewellery and fashionable watches combining European quality and Middle Eastern taste. Their premises will be comprised of ground + 6 floors with a total built up area of 250,000 sq. ft. with an estimated staff force of 400 persons.

On this occasion, Mr. Ahmed Bin Sulayem, Executive Chairman of DMCC, said: “Dubai has established itself as the regional hub for gold, and is witnessing growing volumes of bullion trade. As the only dedicated commodities centre in the Middle East, DMCC aims to consolidate and build on this achievement to enable the growth of gold and gold jewellery manufacturing and refining. We are happy to welcome Aspire DMCC to the DMCC family and look forward to working closely with them to ensure the continued and sustained growth of Dubai’s gold and jewellery trade.”

Majid Algouneh, Chief Managing Director, Hammer Group: “We are proud to be associated with Kareemo Ltd. This partnership will give us the opportunity to bring our worldwide expertise to the Middle East, using Dubai Multi Commodities Centre as our hub for our operations.”

Moaz Barakat, Managing Director of Kareemo Ltd.: “Aspire DMCC is a blend between the Middle Eastern expertise brought forth by Kareemo Ltd. and the European proficiency offered by Hammer Group. This partnership will add to the gold and jewellery industry of Dubai.”

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Monday, October 29- 2007 @ 12:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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