HWI Global Expects To Enter Joint Venture With Middle East Engineering & Marketing Firms
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HWI Global, Inc., the Pittsburgh-based clean room design builder, (OTCBB: IVTW) announces plans to enter a joint venture with two well-established Middle East firms, ASCI Ltd. and Energy International Corporation (EIC).
HWI Global Company expects to immediately establish an operational presence in the Middle East through ASCI Ltd., a construction management firm with offices in Abu Dhabi and Dubai. ASCI plans to grow their business into Qatar, Oman, and Saudi Arabia.
Deric Haddad, CEO, HWI Global explains, "Having worked successfully with ASCI in the states, we know they are a first-class organization. HWI Global foresees a partner with qualified experience in the Middle East construction management health science sector. HWI Global expects a broader outreach allowing us to directly offer our products and design-build services from Dubai to Abu Dhabi."
Energy International Corporation (EIC) brings an immense network of sales and marketing opportunities to the planned joint venture. Headquartered in Canton, MI, EIC is a premier supplier and exporter of American-based industrial equipment through their offices in Riyadh, Dubai, Abu Dhabi, and Sharjah in the UAE; Doha, Qatar; Beirut, Lebanon; and Amman, Jordan. With thirty years of experience, EIC specializes in the marketing and distribution of high-end goods and services.
"EIC has a long history of performance and many solid respected relationships within a vast community of clients and consultants. We are honored and enthusiastic that they share our vision of creating a growing and profitable Middle East entity specializing in the demands of the expanding healthcare market in the region," continues Haddad.
Rami Fawaz, Executive Vice President, Energy International Corporation states, "Partnering with HWI Global is a win-win situation for everyone involved. Their suite of high-quality, specialized products will allow us to broaden our expertise. EIC can expand our current product line to introduce the latest HWI state-of-the-art technology to the region."
"One of EIC's market segments is the furnishing and installation of Building Management Systems, representing Johnson Controls and others. This fits well with HWI Global's recent development and launch of its patent-pending C3 SmartRoom information management system. A high-level control, monitoring, and reporting software application for life science environments, the C3 SmartRoom is platform agnostic and can integrate with any BMS system, including Johnson Controls, Rockwell, Seimens and General Electric," says Haddad.
"We expect HWI's Middle East division to become a recognized brand within the Health and Life Sciences and Technology sector. A significant source of recurring revenue should come through distribution of products and services in these market sectors. Throughout the states communities of professionals and companies are trying to get their Bio-pharm & Tech-based products and services into the international marketplace. HWI will now be a conduit for them.
"The Middle East healthcare market certainly has the viability to warrant this new entity. According to published reports:
- In Saudi Arabia, more than 41,000 new hospital beds are needed in over the next four years to cope with escalating demand from a rapidly growing population. More than $18 billion has been committed to Saudi Arabia's healthcare construction over the next five years -- this includes the construction of 120 new hospitals and the upgrade of four existing hospitals.
- Authorities in the UAE are also planning to invest $1.6 billion (USD) to improve infrastructure in less developed regions of the country which will ultimately boost services such as healthcare.
- The ruler of Dubai recently created a body called the Dubai Healthcare City Authority (DHCA) to oversee activities at Dubai Healthcare City in order to promote Dubai as a 'global medical and healthcare hub.' Further provisions include the challenge of attracting top quality healthcare specialists and professionals to the emirate, as well as drug manufacturers, research laboratories and pharmacies.
- Qatar is witnessing a rapid rise in the number of private health care facilities, with a total of 91 new facilities established in the country only last year;
"Therefore, considering that we are facing a market segment that has 'high demand and low supply,' our primary goal is to act fast. And the most expeditious way to achieve this is through forming a strategic partnership that combines the collective resources of existing entities. In doing so, we must combine technology and expertise with resources and relationships.
"In the case of what we plan to identify as HWI Middle East, the aim is to take the specialized Health Science expertise and technology of HWI Global and to combine it with the regional resources, relationships, professional networks, and historical accomplishments of ASCI Ltd. and Energy International Corporation," concludes Haddad.
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