Bawan Signs Binding MoU for Acquisition of Petronash Holdings Limited

Bawan Company, a leading manufacturer of metal, wood, electrical, and plastic products, has announced the signing of a binding Memorandum of Understanding (MoU) with Petronash Global Limited. This agreement involves the acquisition of Petronash Holdings Limited in its entirety.

Petronash, established in 2000 in the UAE, is recognized as a specialist in the manufacturing of integrated engineering solutions for the oil and gas sector. The company primarily operates in the Saudi Arabian market and boasts a workforce of 1,000 employees. It has manufacturing facilities in Dammam, Dubai, Abu Dhabi, Doha, and Chennai, covering a total manufacturing area of 120,000 square meters.

Bawan highlighted that Petronash predominantly supplies its products to national oil and gas companies across the Gulf region. In addition, Petronash exports many of its products to various countries in the Far East, Africa, and the Americas.