Good news on the UAE front with the factory their moving into profitability as is I would assume the Indian operations (Component Homes is already profitable now).
Very good signs for the future IMO.
UPDATE ON OPERATIONS IN THE UNITED ARAB EMIRATES
The Directors of JV Global Ltd are pleased to advise that it’s United Arab Emirates joint venture company, Arabian Profile Global Co. LLC. (APG) is making steady progress towards production levels which will result in profits being achieved over the next twelve months. The company has now completed the supply and installation of steel door frames in the new wing of the Ajman Hospital. APG has also secured a contract for the supply of steel door frames for Al Hadeef Contracting for two G + 15 storey residential tower blocks and a further contract for Intermass Engineering and Contracting for the supply of complete doors sets (inc. Steel door frames and timber doors) for a G +15 storey residential project. The total value of these two contracts is in excess of AED1.25 million (AU$362,790). APG has also made significant inroads into the rapidly growing local light guage steel (LGS) framing market. Two major suppliers of LGS framing based in the UAE have expressed a desire to use our steel door frames exclusively in future projects. Ecospecifier, a 3rd party Environmental Consultant has assessed APG’s steel door frames for LEED accreditation and APG will be exhibiting at the Ecospecifier stand at the Gulf Building Expo to be held in Abu Dhabi later this month. As from the 1st January, 2008 HH Sheikh Mohammed Bin Rashid Al Maktoum announced that all buildings in Dubai will be LEED Certified in an effort to comply with world “Green” Standards. This has produced an increase in awareness and interest in the Steel Door Frame from developers who have previously used wooden door frames but who are now seeking to achieve LEED certification with positive responses being received from several major developers. The recent project won by APG to supply our steel door frames together with doors, is significant as it is the first project which reflects the benefits ofthe newly signed agency between APG & Trafalgar Building Products, part of the Norfolk Group of companies, an Australian based ASX public company. Under the agreement Trafalgar Building products will initially supply APG with fire rated doors including hardware from Australia with a view to APG eventually establishing a manufacturing facility in the UAE. JV Global Limited (ASX Code: JVG) ABN 80 009 142 125 Suite 28 The Hyatt Centre, 87 Adelaide Terrace Perth WA PO Box 6875 East Perth WA 6892 Ph: +61-8 9325 2700 Fax: +61-8 9325 2711 eMail: [email protected] Web: www.jvglobal.com.au This is a major step forward as the company now has the capacity to supply a “total packaged solution” – something that has been an issue in the past in terms of tendering for larger projects. The company has also employed the services of Warringtopn Bodycote, one of the world's leading 3rd party labelers of fire rated products. Trafalgar test results have been sent to the UK for assessment and once completed; the approvals will be submitted to Dubai & Sharjah Civil Defense in order to have APG added to the list of Certified Suppliers for the UAE. Further APG advises that several major projects are currently in the final stages of negotiation and the company hopes to be in a position to announce the finalisation of these substantial contracts in the near future. Kenneth McKinnon Company Secretary
JVG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
