Ascorel Middle East, a venture between Dubai-based KBW Investments and French manufacturer Ascorel Group, is set to begin operations next month in the UAE.
 
The new company will facilitate the sale, implementation, and distribution of Ascorel’s products dedicated to the heavy machinery segment in the region.  

KBW Investments, founded and chaired by Prince Khaled bin Alwaleed bin Talal, works across a number of sectors including construction, finance, consultancy, and development.

The agreement for the launch of Ascorel Middle East was signed by Ahmed Alkhoshaibi, group CEO, KBW Investments, and Francis-Pierre Lemahieu, president of Ascorel Group.

Ascorel describes itself as an integrator company whose products are designed to increase safety and efficiency at worksites. They can be found in industries including mining, aggregates, public works, transportation, waste, civil construction, scrap and recycling.

Since 1988, Ascorel has focused on the development, installation and maintenance of electronic systems that are designed to enhance control and safety when it comes to civil engineering machines as well as lifting and fire-fighting equipment. 

Located in Pont-Évêque, France, its turnover is approximately 15 million euros ($17.1 million) of which 40 per cent comes from its export activities. 

Ascorel Middle East will be based out of KBW Investments’ headquarters in Dubai.

Alkhoshaibi said: “The establishment of the partnership builds on a longstanding and mutually successful relationship between our two entities.

“Raimondi Cranes, acquired by KBW in 2014, has worked closely with Ascorel for many years in regards to the application of the company’s construction safety solutions. The integration of Ascorel technologies into the Raimondi Cranes framework has given us ample experience with the company, and has allowed us to confidently unite for this new venture that targets the entire Middle East region.”.

Jean-Yves Billon, CEO, Ascorel and Ascotronics Group, said: “Our company’s range of products, services and after-sale attention will now be made available to the Mena region through the establishment of Ascorel Middle East.

“The new partnership with KBW Investments will allow for greater international reach and market penetration, given the company’s strong regional foothold and diverse presence in the construction and manufacturing sectors,.

“We are looking forward to strengthening our Middle East market share, and we have planned to devote significant resources to this exciting time in our company’s history.”