Zicom Electronic acquires 49% stake in Unisafe Fire Protection Specialists LLC, Dubai

With reference to the earlier announcement dated March 12, 2007 regarding Outcome of Board Meeting, wherein the Company had informed about the approval granted by the Board of Directors at its meeting held on March 09, 2007 for investment in overseas venture, Zicom Electronic Security Systems Ltd has announced that in accordance with the said approval, the Company has acquired 49% stake in Unisafe Fire Protection Specialists LLC, Dubai, by executing a Share Sale Deed on May 14, 2007 with an existing partner of the said Joint Venture. Unisafe Fire Protection Specialists LLC, Dubai, a Limited Liability Company, has taken over business of an erstwhile partnership firm M/s. Unisafe Dubai. Unisafe has been engaged in providing Fire Protection products and services in U.A.E. for almost a decade.

M/s. Unisafe has handled many prestigious projects in UAE like Emirates Towers, Dubai Airport Hangars, etc. Today Unisafe caters to large spectrum of clientele from government to corporate, refineries, shopping malls, multi storey building, resorts etc. It offers a comprehensive range of solutions for all Fire Protection needs starting from the basic Hydrant and Sprinkler Systems to advance Analogue Addressable Fire Alarm Systems and specialized Gaseous Fire Suppression Systems.

As part of its services, Unisafe provides local technical support to existing installations, undertake scheduled maintenance contracts of various types of Fire Protection Systems and has a well equipped Workshop, with testing facility, refilling plant, Halon recycling etc.

Source : Equity Bulls

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