The board of Unimech Aerospace and Manufacturing, at its meeting held on 20 January 2026, approved a proposal to enter into a joint venture agreement with Yusuf Bin Ahmed Kanoo Company (YBAK) for the formation of a joint venture company in Saudi Arabia. The collaboration is expected to strengthen Unimech’s presence in the Middle East and support its long-term growth strategy in the aerospace and manufacturing sector. Founded in the Kingdom of Bahrain in 1890, the Yusuf Bin Ahmed Kanoo Group is one of the oldest and most diversified family-owned business conglomerates in the Middle East. With a legacy spanning more than 135 years, the group has played a significant role in the economic development of the Gulf region and has built a reputation for operational excellence and long-term partnerships. 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. The group has a strong regional footprint across Saudi Arabia, Bahrain, the UAE, Oman and Qatar, supported by global partnerships with leading international companies. Known for its emphasis on ethical business practices, innovation and sustainability, YBAK has evolved into a globally connected enterprise while remaining firmly rooted in its family-led values. Through this joint venture, Unimech aims to leverage YBAK’s regional expertise and market access to expand its manufacturing and aerospace capabilities in Saudi Arabia, aligning with the Kingdom’s industrial development ambitions. The partnership reflects Unimech’s strategic focus on international expansion and collaboration with established regional players, positioning the company to capture emerging opportunities in the Middle East’s growing industrial and aerospace ecosystem.