Ritek announces licensing agreement with Saudi property group

News /
18 November 2009

Cooroy-based Ritek Building Solutions has announced the commencement of an international licensed technology agreement with Saudi-based company Ebram Real Estate.

Multi-award winning Queensland owned company Ritek Building Solutions has manufactured sustainable roof and wall systems for both the private and public sectors of the Australian construction industry for more than 25 years. Ritek Building Solutions CEO Gayne Emblin is delighted to announce a new Saudi international licensing partner, hot on the heels of Ritek's recent announcement of an international licensing agreement with a company in India just two months ago.

"The company, Ebram Real Estate, is a developer well-known for their superior quality, low cost, environmentally sustainable and ethical housing. They focus on building methods that are modular, scalable and cost effective. Their values are very closely aligned to Ritek Building Solutions' sustainability vision," says Gayne Emblin. "Ebram's projects are acquiescent to using Ritek's products, including Ritek's XL Wall System, C-Wall System and Floor Form systems, which will offer an overall building solution," Gayne said.

The parent company for Ebram Real Estate is Ebram Investments, which falls under Saudi company Himmah, a company heavily involved in project development and infrastructure such as telecoms, real estate, logistics and health care. Ebram's territorial rights extend across the Middle East and Africa, (excluding Oman, Qatar and UAE).

The initial project for Ebram, incorporating Ritek's eco-innovative products will be the construction of an integrated residential community, situated 30 km from Riyadh in Saudi. The development will provide medium-level housing for workers and their families in the expanding Industrial City. Industrial City is the largest industrial complex in the Middle East, where the number of industrial projects is more than one thousand and approximately 120,000 workers are employed in these cities. The complex has been planned as a model quarter serving inhabitants and raising the standard of living, where 65% of the land area is allocated for the green areas and entertainment.

"Ebram also has a large project commencing next year in Jeddah KSA as well as significant projects in Jordan. They are well positioned to win further projects in the new European tourist destinations of Libya and Morocco. Ebram recently hosted the Governor of Lagos, Nigeria, and are well-placed to win a very large development project in Lagos. There is a strong possibility of Nigerian officials visiting Ritek's Cooroy facility in 2010," said Gayne Emblin.

The scope of the projects Ebram has now and in the future, represents an ongoing multi-million dollar income stream for Ritek and the Australian manufacturing industry. Ebram will commence production of the Ritek products through their Riyadh Technology Centre which will be developed and commissioned in conjunction with Ritek. Other smaller manufacturing facilities will be established in the future to service Nigeria and other parts of the Middle East and Africa, considered too far from Riyadh.

The international licensing agreement for the Saudi based company Ebram Real Estate company to commence manufacturing of Ritek's XL Wall System is effective immediately.

Ritek Building Solutions

Ritek Building Solutions manufactures innovative prefabricated wall panels and stainless steel and aluminium roof panels.

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