Black Pearl Capital and IDD - Jordan Sign Agreement for Collaboration

AMMAN, Jordan, May 19, 2014 /PRNewswire/ --

Industrial Design and Development ("IDD"), a KADDB Investment Group Affiliate has signed a Memorandum of Understanding ("MOU") with Black Pearl Capital ("BPC") during the Special Operations Exhibition and Conference (SOFEX 2014).

The MOU builds on the core strengths of both companies in the Oil & Gas equipment manufacturing and Defence Sectors. The objective is to build and develop a viable business using both parties' complimentary skills and resources in the MENA region.

Mr. Waleed Rababa'a, the General Manager of IDD commented "We are very pleased to enter into this agreement with BPC, and look forward to a long-standing partnership." IDD is an experienced organization in the field of design, manufacturing and supply of defence and military equipment, one of the leading innovative manufacturing companies in Jordan.

"It is a great pleasure for us to begin this co-operation with IDD. We see many points of technical and commercial collaboration that will enable both companies to increase their presence in the regional market" added Omar Khalifeh, General Manager of BPC Jordan. BPC owns an international manufacturing company - CEEM FZE - in the UAE, specializing in the manufacturing of hydraulic work-over units and other industrial equipment, which will be the initial focal point for collaboration.

About  IDD 

IDD is an affiliate of the KADDB Investment Group, as a member of the Automotive and Industrial Cluster, established to design and remanufacture warrantied electrical units and harnesses. IDD Scope of work includes the remanufacture of automotive and other electrical components, design, systems engineering and integration of special systems for military vehicles, manufacture electrical and electronic components, as well as the design and manufacture of electrical harnesses.

For more information, visit http://www.iddjordan.com or contact nodat@kaddbinvest.com.

Media Contact: Nadine Odat +962-6-4603-230

About  KADDB

The KADDB Investment Group (KIG) has been established to act as the commercial and investment arm for the King Abdullah II Design and Development Bureau (KADDB) and its affiliates. The KADDB Investment Group aims at establishing new and growing businesses in the Defence and Security industries along with various services that would complement these industries. The scope of work covered by the Group's Affiliates is represented in Business Clusters; Automotive and Industrial, Troops, Arms and Ammunition, as well as a Supplementary Cluster.

For more information, visit http://www.kaddbinvest.com or contact nodat@kaddbinvest.com.

Media Contact: Nadine Odat +962-6-4603-230

About  BPC 

Black Pearl Capital is an asset management firm registered in the Cayman Islands, with offices in Europe and the Middle-East where its dedicated team of professionals provide its clients with specialized wealth and investment management services, as well as deal specific transaction advice.

For more information, visit http://www.blackpearlcap.com or contact info@blackpearlcap.com.

Media Contact: Bjorn Martenson +41-22-906-9986

About  CEEM

Based in the UAE, CEEM specializes in the manufacturing of unique and custom-made equipment for the oilfield industry. One area of its expertise is the design and manufacturing of Advanced Hydraulic Workover Rigs ("AHWU"), a vital component of any drilling operation. The Company further provides multiple oilfield related services such as Water Jet Cutting, CNC Plasma Cutting, Steel Fabrication, Machining, Grit Blasting and Painting.

For more information, visit http://www.ceemfze.ae or contact info@ceemfze.ae.

Media Contact: Charles Lee +971-7-258-9484