TRU Group Middle-East Gulf Ventures
TRU Signs with CAPIVEST on Middle-East Magnesium Smelter
TRU Group Inc, Toronto and Bahrain July 12, 2008 announces Edward R Anderson, President, has signed an agreement with CAPIVEST Bahrain to manage the development of a major magnesium metal smelting industry in the Middle East.
TRU Group Inc, Toronto and Bahrain July 12, 2008 announces Edward R Anderson, President, has signed an agreement with CAPIVEST Bahrain to manage the development of a major magnesium metal smelting industry in the Middle East.
CAPIVEST, an investment bank based in Bahrain, plans to establish a $1-billion company that will build the first-of-its kind magnesium smelter, meeting environmental standards observed internationally, in the Middle East and North Africa (MENA) region. CAPIVEST has signed an agreement representing a strategic alliance with TRU Group Inc, (an international technical advisory team with extensive experience in engineering, planning and managing technology-intensive industrial projects) to oversee the technical and engineering arm of the company. The project also entails future plans to build multiple environmentally friendly magnesium smelters in different locations, which will provide another steady income stream for the MENA region.
CEO of CAPIVEST Nabil Hadi said: "Our approach is to always look for novel investment opportunities having the potential to contribute to the development of regional economies without harming the environment, which also offer our investors high returns on their equity. The magnesium industry is still somewhat an un-chartered territory in the region, so we feel there is a huge potential for this company CAPIVEST will establish."
He added that "collaborating with TRU Group was important for this project, because we wanted to have a highly-specialized and dependable team of advisors with international experience committed to working with us through the long haul."
Edward Anderson said "TRU is pleased to be working with CAPIVEST on such an important development. The initiative means that CAPIVEST would become a major player in magnesium metal and alloy, as well as downstream magnesium manufactured products. This will provide a new reliable supply of magnesium to a sector that has in the last decade become dominated by Chinese producers. The Gulf is an excellent strategic location for magnesium smelting." For TRU Magnesium Metal Capability 
Based in the Kingdom of Bahrain, Capivest (formerly Khaleej Finance & Investment khaleejfinance.com) is a dynamic investment bank that continues to build a well-diversified portfolio in terms of its geographic and industry sectors. The bank has successfully structured investments in private equity and real estate, embracing developed and emerging markets in Europe, the Middle East and Asia, and in sectors ranging from technology and healthcare to building materials and retailing. Capivest has launched a series of investment funds in collaboration with leading regional and international institutions. The Bank's business proficiency and institutional capabilities have been notably recognized by prestigious global awards, including 'Deal of the Year Award 2005' from The Banker, and 'International Gold Star for Quality 2006' from Business Initiative Directions.
CAPIVEST Plans to Establish a $1 Billion Company in the MENA Region
Manama, July 13, 2008: Bahrain-based CAPIVEST has plans to establish a $1 Billion dollar company that will build the first-of-its kind Magnesium Smelter, meeting environmental standards observed internationally, in the Middle East and North Africa (MENA) region. CAPIVEST has signed an agreement representing a strategic alliance with TRU Group, (an international technical advisory team with extensive experience in engineering, planning and managing technology-intensive industrial projects) to oversee the technical and engineering arm of the company. The project also entails future plans to build multiple environmentally friendly magnesium smelters in different locations, which will provide another steady income stream for the MENA region.
The magnesium alloy market continues to show strong signs of growth potential, with auto manufacturers in particular seeking lightweight yet durable solutions that comply with increasingly stringent environmental standards. The CAPIVEST Magnesium Smelter built by the company will produce pure magnesium metal and its downstream for high-quality magnesium alloy casting, magnesium extrusion, and magnesium die casting. These end products are most notably used by aluminum smelters, the automotive and aircraft industries, and in the alloys for the production of aluminum for various usages.
Bankable feasibility studies have already been completed to construct and operate this world-class magnesium smelter in the MENA region, with an initial production capacity of 30,000 to 60,000 tons per year. Preliminary discussions are also underway with international partners identified to subsidize the technical equipment needed immediately for components of the magnesium smelter that will be built. Due to significant advances that have been made in technology and equipment to reduce greenhouse gas emissions from the magnesium industry, CAPIVEST is confident that all aspects of this project will meet stringent environmental standards observed internationally.
CEO of CAPIVEST, Mr. Nabil Hadi, commented on this strategic move stating: "Our approach is to always look for novel investment opportunities having the potential to contribute to the development of regional economies without harming the environment, which also offer our investors high returns on their equity. The magnesium industry is still somewhat an unchartered territory in the region, so we feel there is a huge potential for this company CAPIVEST will establish." Mr. Hadi added, "Collaborating with TRU Group was important for this project, because we wanted to have a highly-specialized and dependable team of advisors with international experience committed to working with us through the long haul."