RAK Ceramics, a global manufacturer of lifestyle ceramics solutions based in the UAE, has taken over 100 per cent of its Indian operations by acquiring the remaining eight per cent minority stake in its Indian subsidiary.
RAK Ceramics has three production lines in India, with a current capacity of eight million sq m of tiles. The announcement follows RAK Ceramics’ recent acquisition of 100 per cent of its Iranian operations. RAK India is one of 15 plants owned and operated by RAK Ceramics globally; the remaining includes 12 in the UAE and one each in Bangladesh and Iran.
Meanwhile, RAK Ceramics has been conferred the ‘Brand of the Year’ award in the regional category at the prestigious World Branding Awards held recently in London, UK. It said the award is in recognition of it being one of the largest brands in its category in the Middle East, and for displaying far-sighted and strategic value for its key stakeholders.
A total of 118 brands from 30 countries were honoured at the awards where national tier winners from the UAE included Adnoc (Abu Dhabi National Oil Company) and Dubai Duty Free.