Lakesmere to create parent company

LAKESMERE, the UK’s largest building envelope specialist, will create a new parent company, Lakesmere Group, as part of plans for a corporate reorganisation.

The company has built on its domestic success to expand overseas business, which includes its three operational divisions in the Middle East.

The company is looking to sustain and build upon its successful heritage spanning more than 20 years with this reorganisation, which will bring about changes to its board of directors and result in the establishment of five subsidiary companies – Lakesmere, McMullen Facades, Lakesmere Arabia, Lakesmere Oman and Lakesmere UAE.

The changes will formalise Lakesmere’s existing divisional activities through the creation of individual operating companies and strengthen the board of directors at an operational level. Lakesmere’s incumbent managing director Mark Davey will retain his position and will chair the board of directors for Lakesmere Group and each of the subsidiary companies.

Jotun conducts roadshows

JOTUN Saudi Arabia, a leading paint manufacturer in the kingdom, last month held a roadshow in Jeddah to instruct freelance painters how to use its Jotashield range.

The roadshow helped painters select the right paint for exterior surfaces, the company said.

“We are fully committed to supporting freelance painters and the purpose of this roadshow is for Jotun professional paint experts to explain the various features and benefits and uses of the different types of our Jotashield exterior paint products, as well as showing painters the right technique of applying Jotashield in order get the desired result,” said Muzzakir Bukhari, exterior products manager at Jotun Saudi Arabia.

The Jotashield roadshow will also be held in Riyadh and Dammam.

Marina West handover sought

PROPERTY owners waiting for their new homes at the Marina West project in Bahrain are taking measures to speed up handover promised in December 2010. They will soon hold three decisive meetings that will be held in Saudi Arabia and Bahrain, Marina West sources from a property owners’ committee told the Akhbar Al Khaleej newspaper.

The owners, belonging to 28 nationalities, include Saudis, Bahrainis and Britons, in addition to investors from the Middle East, Asia, Europe, the US and Australia.

The Gulf Daily News earlier reported that a group of more than 400 Gulf, Arab, Asian and European buyers, who invested in the project to buy 500 housing units, have not received their homes despite filing cases in local courts. Owners’ committee co-ordinator Hassan Al Hussain also said that the group had already paid 80 per cent of the price of the homes.