AA Metals, Inc. and International Dominican Aluminum announce Joint-Venture partnership to extrude aluminum products in the Dominican Republic
Dr. Jack Cheng named the non-executive Chairman of IDA
ORLANDO, Fla., Feb. 13, 2020 /PRNewswire-PRWeb/ -- AA Metals, Inc. (AAM), the Orlando based North America premier distributor of metal products and International Dominican Aluminium (IDA), a portfolio company of Black Pearl Capital (BPC), the Geneva based asset management firm, announce the launch of a joint venture to extrude AAM's suite of aluminium products at IDA's facility in the Dominican Republic.
Dr. Jack Cheng, founder, CEO and President of AA Metals, commented: "AA Metals is committed to forge a long-term strategic partnership with IDA. Throughout the years, AAM has established reliable and seamless supply chain service to provide quality metal products to our customers' doorsteps at competitive prices. Strategically located in the Caribbean, IDA's state-of-the-art fabrication and extruding facility equipped with AA Metals standardized operational procedures and extensive technical support will guarantee the highest quality extrusions to fulfil our globally expanding customers' demands with much shortened delivery time in a cost-effective way. I see our collaboration exemplifying a sustainable win-win growth plan for both companies."
Leonardo Garcia (President of IDA) said: "We are extremely pleased to have AA Metals as a major customer and believe that along with AA Metals expertise and volume, we can fulfil the potential of the Dominican Republic as a major manufacturing hub for the Caribbean and Florida markets. Collaborating with such well-known brand across North America is ideal for us to fulfil the 1st phase of our expansion into the US market. This partnership will allow us to utilize our capacity to generate over USD $50 million worth of sales over the next three years"
Black Pearl Capital's COO, Abbas Jafarian added, "We have expanded our workforce in 2020 to over 130 employees and seen great potential to continue with our aggressive growth plans. IDA is an ideal example of the Dominican Republic's drive to bring manufacturing know-how into the country to enhance the local economy. I am also very pleased that Dr. Cheng has agreed to join the board of IDA to offer his technical expertise and strategic guidance over the coming years. His recent recognition of 2019 EY Entrepreneur of the Year® Florida and Entrepreneur Of The Year® 2019 National Award Finalist is a testament to his unstoppable entrepreneurship and accomplishment within the distribution and manufacturing industry."
About International Dominican Aluminum
International Dominican Aluminum S.A. is one the largest extruders in the Caribbean and the only integrated extruder in the region with not only aluminum extrusion capabilities but also fabrication of window walls, railings and curtain wall systems. Our partners United Glass Systems Metal Yapi add up more than 40 years of experience in the fenestration business all over the world. For more information, visit http://www.idasa.com.do
About AA Metals
AA Metals, Inc. is a global leading master distributor of quality aluminum and stainless products. The company meets market demands by presenting customized solutions and creating effective, mutually beneficial service relationships with hundreds of customers and suppliers worldwide. AA Metals furnishes a comprehensive package of procurement, logistics, finance, insurance, industrial marketing, and after-sale services, and provide its customers and suppliers with its unmatched marketing and sourcing expertise, industry knowledge, technical support, and global reach. Headquartered in Orlando, Florida, AA Metals has expanded its operations to Colombia, Turkey and China with over 300 employees and over 600,000 SF distribution and manufacturing facilities. For more information, visit http://www.aametals.com or contact [email protected].
About Black Pearl Capital
Black Pearl Capital is a proprietary investment management firm focusing on opportunistic private and public equity investments in specific industry sectors. Headquartered in Geneva, Switzerland, Black Pearl Capital's funds cover a global investment programme. Portfolio companies are located in Europe, Asia, the Middle East, Africa and Australasia. For more information, visit http://www.blackpearlcap.com or contact [email protected].
SOURCE AA Metals, Inc.
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