Unimech Aerospace has taken a significant strategic step toward international expansion by approving a proposal to enter into a Joint Venture Agreement with Yusuf Bin Ahmed Kanoo Company Limited, a leading diversified business group based in the Kingdom of Saudi Arabia. The decision was approved by the Board of Directors at its meeting held today and has been disclosed under Regulation 30 of the SEBI Listing Regulations.
The proposed joint venture will lead to the formation of a new company in Saudi Arabia, marking Unimech Aerospace’s entry into one of the fastest-growing industrial and aerospace markets in the Middle East. This development aligns with the broader regional push toward advanced manufacturing, localisation of defence and aerospace supply chains, and industrial diversification under Saudi Arabia’s long-term economic vision.
Founded in 1890 in the Kingdom of Bahrain, the Yusuf Bin Ahmed Kanoo Group is among the oldest and most respected family-owned conglomerates in the Middle East. With a legacy spanning over 135 years, the Group has played a pivotal role in the economic development of the Gulf region and has built a strong reputation for long-term partnerships, operational excellence, and ethical business practices.
YBAK operates across a wide range of sectors including shipping and logistics, travel and leisure, industrial and energy solutions, machinery, chemicals, oil and gas services, power and water, and real estate. Its strong regional presence across Saudi Arabia, Bahrain, the UAE, Oman, and Qatar is supported by deep local expertise and global partnerships with leading international companies. The Group’s emphasis on innovation and sustainability has helped it evolve into a globally connected enterprise while remaining firmly rooted in family-led values.
