Lift for Crosby and KITO after merger completes

from expanded service, support, and training. Under the new entity, Kito Crosby team members will be participants in the employee ownership programme.

The Crosby Group, a leading provider of lifting and rigging solutions, and KITO CORPORATION, a leading manufacturer of material handling equipment with 90 years of experience in the development and production of hoists and cranes, have completed their merger. The announcement follows the settlement of The Crosby Group’s cash tender offer for all outstanding shares of KITO CORPORATION for JPY 2,725 per share and the completion of the related squeeze-out process and de-listing of KITO CORPORATION from the Tokyo Stock Exchange. This combination, under the name Kito Crosby, brings together two industry-leading companies with complementary geographic footprints and product portfolios to better serve customers, team members, and their global communities. The combined company will invest in its people, products, and facilities to advance innovative solutions for customers, who will benefit

Robert Desel, CEO of Kito Crosby, said: “I am thrilled to announce we have completed the business combination of The Crosby Group and KITO CORPORATION to form Kito Crosby, a global provider of comprehensive lifting solutions. Together, our highly complementary product portfolios and mutual commitments to safety, reliability, and innovation will create exceptional value for our customers and other stakeholders. I am honored to be leading this organisation and its 4,000 team members around the world to bring together two amazing businesses with rich traditions and histories. I am very excited to announce that under the combined company we will be extending our expanded employee ownership program to Kito Crosby team members.”

ENOC’s Tasjeel in collaboration with Sharjah Asset Management has broken ground on its first site offering testing services for both light and heavy vehicles.

Located in the Al Sajaa area of Sharjah, the new site brings the total number of testing centres in the emirate to 13, a statement said.

Spanning a total area of 32,777sqm, the new Tasjeel site will have five testing lanes for light vehicles, and five testing lanes for heavy vehicles. It will also contain a workshop, as well as a food court, including a drive-thru restaurant.

In addition to offering seamless testing and registration processes for both categories of vehicles, the site will offer a range of automotive facilities, including vehicle and driver licensing services, the statement continued.

Tasjeel owns and operates 30 sites – all of which use stateof-the-art equipment – as well as three mobile units.

CSCEC TO TAKE

OVER FROM NPC AT CAVALLI TOWER

Developer DAMAC Properties has awarded China State Construction Engineering Co. the main works construction contract for its 71-storey Cavalli Tower, following the completion of piling and excavation works by NPC.

Tough Year Ahead For Cement Industry

2023 could be a challenging year for the cement industry according to World Cement Association (WCA) Director, Emir Adiguzel. He made the comments as part of his Outlook for 2023 presentation.

Reflecting on the past two years of high demand post pandemic, Adiguzel said that several issues including tighter monetary policies, increased sea freight rates, and high fluctuations in the cost of energy may gradually exert pressure on cement producers to establish higher cement prices. In addition, Adiguzel stated that major multinational cement companies will continue to divest cement assets in emerging markets, creating a unique opportunity for players in such markets, including China, to enlarge their portfolios in positive growth markets by acquiring the cheapest European cement assets.