(MENAFN- Khaleej Times) Four companies have joined Eternal Global in a bid to boost growth and achieve revenue targets.
Eternal Global is a Dubai-based holding company with eleven subsidiaries across various industries. Originally conceived as an engineering focus holding company, Eternal Global has now expanded to include logistics, hospitality, and investments, as well as international expansions.
Albanna Engineering, a leading EPCM contactor in the oil and gas sector, signed to become a subsidiary of Eternal Global at a signing ceremony held in Dubai late Wednesday. The other companies becoming subsidiaries are Albanna Global Constructions, Ahmad Saleh Packing and Logistics, and Eternal Global's international expansion, Albanna Engineering India.
Eternal Global was formed in early 2013 as a vehicle to transition a traditional family operated business model into a shareholding structure, and to unify the various companies under a single mission and direction. Governed by a board of directors, Saeed Albanna leads the group as chairman. Under his chairmanship Eternal Global is on track to surpass the half a billion mark in revenue for the end of fiscal year 2013, and continue its international expansion into Singapore and Vietnam.
"Today marks a momentous milestone for Eternal Global. What began as a fragmented operation of various companies is now consolidated into one entity. Each of the companies will benefit, and utilise all of the resources available to them now as subsidiaries. With a unified model we're able to accomplish more than by working independently," Albanna said at the signing ceremony.
With this occasion Eternal Global is introducing itself to the public and making their presence known. The future looks bright for Eternal Global, already achieving its forecasted revenue for 2013, and now with four companies under their guidance 2014 is gearing up to be monumental as well.
"Eternal Global is not only a group for existing companies. It is an opportunity for the group to create new ones, and diversify our portfolio. We're exploring ventures in hospitality, retail and investments as well as expanding into international markets," Albanna said.
- See more at: http://www.khaleejtimes.ae/biz/inside.asp?xfile=/data/uaebusiness/2013/September/uaebusiness_September125.xml§ion=uaebusiness#sthash.zidDT0Ss.dpuf
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