Pressbolt Middle East – part of the Italian Pressbolt group – has signed a framework pricing agreement with Adnoc to supply the latter a range of critical industrial products in their procurement pipeline.
The company is a leading global supplier of fasteners, gaskets, special coatings and precision machined components to the engineering industries.
As part of its expansion in the Mena region, Pressbolt Middle East recently relocated to a 10,000 sq m facility. This will be followed by further investments to enhance its in-country production capabilities in order to support continuous growth and add new product ranges.
The deal with Pressbolt is one of many agreements Adnoc signed this month with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products. The total worth of these deals is $4.63 billion.
The agreements outline the intention of the companies to manufacture these products in the UAE, supporting the ‘Make it in the Emirates’ initiative and the ‘Abu Dhabi Industrial Strategy’.
The products are part of the $19 billion worth of products in Adnoc’s procurement pipeline that the company identified for domestic manufacturing in July 2022.