Thermal management solutions provider Klondike Technologies has signed a memorandum of understanding with Dyarco International Group as a precursor to establishing a Joint Venture in Qatar. With Dyarco’s 20+ years’ of experience in the service consultancy industry in Qatar, the move marks an essential part of Klondike’s strategy to establish a permanent footprint in Qatar and the GCC region. The announcement was made during the recent Enterprise Ireland Trade and Investment Mission to Qatar and Oman.
Klondike Technologies’ team of experienced engineers specializes in developing thermal solutions for the telecom, broadcasting and renewable energy sectors. The firm entered Qatar two years ago and has since developed, proofed and validated its core technology which is now primed and ready to move into the commercialization phase. Founded in Dublin, Ireland, this is the first international venture undertaken by Klondike.
Robert O’Malley, Director, Klondike Technologies said, “This MOU is the first step in establishing our Joint Venture with Dyarco International. We hope to create a strong and lasting partnership with the reach and local expertise necessary to best serve our clients. We intend to grow our team and add new skills as a result of this positive development.” He continued, “We are looking forward to a long and fruitful relationship that will allow our two companies to develop and grow in the region.”
Dyarco is formally a partnership between Al Faisal Holding, (Chairman H.E Sheikh Faisal Bin Qassim Al Thani and represented by Mr. Bader Abdulwahab J A Al-Fehani) and another prominent Qatari Group, Ebrahim Al Neama & Sons Holding Group (represented by Chairman Mr. Ebrahim Al Neama). Both Groups are well established and have diversified business interests, including Industrial Manufacturing and Trading. Mr. Achu, the General Manager of Dyarco International Group commented: “As a group we are innovative in our way of thinking and doing business. Companies such as Klondike who have a similar business culture become ideal potential targets and fit in our strategy to add value to our growth as well as the SME segment of this country in general.”
Speaking in Doha during his trade mission to Qatar, Irish Minister of State with special responsibility for Trade and Development, Joe Costello said: ‘I am delighted to welcome this MOU between Klondike Technologies and Dyarco. This announcement builds on the significant achievements by Klondike since they entered the Qatari market just two years ago with demonstration installations in two major international companies. I wish both parties every continued success. This announcement by Klondike is very welcome and shows what is possible for Irish companies in this region. This step toward a JV is a great endorsement of the growth in relationships between Ireland and Qatar and the facilitation of opportunities for Irish exporting businesses’.