Streit Group, the world’s largest armoured vehicles manufacturer, in a major move has signed a land lease that will triple the size of its facilities at the Ras Al Khaimah Free Trade Zone (RAK FTZ) to 4.5 million sq ft.
This expansion from 1.4 million sq ft to 4.5 million sq ft, will allow the company to boost its production from 1,450 units to 1,500 units per year, and to increase the number of its employees from 648 to 1,000 by the end of the year.
The mega facility will also include a larger employee accommodation, a glass factory, pre-fabrication facilities, fuelling stations, a helipad, and support manufacturing facilities. Established in 1996 in Canada with only a handful of tools and a rented garage, Streit presently operates in over 100 countries, with 25 global offices and 12 manufacturing facilities worldwide. The company expanded to RAK FTZ’s Technology Park in 2006. […]