MNB Precision launches international ventures with Abu Dhabi joint venture
HFI has been delighted to support UK-based MNB Precision’s expansion into the Middle East. The company has now reached agreement on commercial heads of terms for a new joint venture with Sigma Engineering for the United Arab Emirates, marking the company’s first overseas venture.
Established over 40 years ago, MNB Precision provides manufacturing and precision engineering services to the world’s leading companies across the oil & gas, power generation, aerospace, rail and other manufacturing industries. The company specialises in precision engineering, offering a broad range of in-house capabilities with a commitment to excellence in quality from its Coventry based, 36,000 square feet factory.
The overseas business expansion will involve the establishment of MNB Precision International at the DMCC free zone in the UAE and a 50/50 joint venture company with Sigma Engineering which will see a new precision engineering facility being launched in Abu Dhabi.
The new venture will be led by Luke and Elliot Benton, the third generation of the Benton family who have owned and managed the business.