Arabtec Holding Appoints Waleed Al Mokarrab Al Muhairi as a New Member and Chairman of the Board

Arabtec Holding PJSC is a United Arab Emirates-based company engaged, along with its subsidiaries, in the construction sector. The Company operates in five business segment: the Building construction segment engages in the construction of high-rise towers, building and residential villas; the Precast and concrete production segment produces ready mix concrete and precast; the Drainage and electromechanical works segment is involved in the execution of drainage, electrical and mechanical works; the Marine construction segment is involved in the marine construction, and the Equipment trading segment is engaged in trading of heavy equipment and steel. The Company's subsidiaries include Arabtec Construction LLC, Austrian Arabian Ready Mix Concrete Co. LLC, House of Equipment Co. LLC and Arabtec Precast LLC, among others. In October, 2013, the Company's subsidiary, Arabtec Construction, completed the acquisition of a 45% share in the Emirates Falcon Electromechanical Company (EFECO).