Irish company signs MoU with Qatari service consultancy

Officials of Klondike Technologies and Dyarco International Group sign the memorandum of understanding.

Thermal management solutions provider Klondike Technologies from Ireland has signed a memorandum of understanding (MoU) with Qatar’s Dyarco International Group as a precursor to establishing a joint venture. With Dyarco’s over 20 years’ experience in the service consultancy industry in Qatar, the move marks an essential part of Klondike’s strategy to establish a permanent footprint in Qatar and the GCC region. The announcement was made during the Enterprise Ireland Trade and Investment Mission to Qatar and Oman. Klondike Technologies’ team of experienced engineers specialises in developing thermal solutions for the telecom, broadcasting and renewable energy sectors. The firm entered Qatar two years ago and has since developed, proofed and validated its core technology, which is now primed and ready to move into the commercialisation phase. Founded in Dublin, Ireland, this is the first international venture undertaken by Klondike.Robert O’Malley, director of Klondike Technologies, said: “This MOU is the first step in establishing our joint venture with Dyarco International and we hope to create a strong and lasting partnership with the reach and local expertise necessary to best serve our clients. We intend to grow our team and add new skills as a result of this positive development.” Dyarco is formally a partnership between Al Faisal Holding (chairman HE Sheikh Faisal bin Qassim al-Thani and represented by Bader Abdulwahab J A al-Fehani) and another prominent Qatari goup, Ebrahim Al Neama & Sons Holding Group (chairman Ebrahim al-Neama). Both groups are well established and have diversified business interests, including industrial manufacturing and trading. Achu, general manager of Dyarco International Group, said: “As a group, we are innovative in our way of thinking and doing business. Companies such as Klondike that have a similar business culture become ideal potential targets, who would fit into our strategy and add value to our growth in particular as well as the SME segment of this country in general.”  Speaking in Doha during his trade mission to Qatar, Ireland’s Minister of State for Trade and Development Joe Costello said: “I am delighted to welcome this MoU between Klondike Technologies and Dyarco. This announcement builds on the significant achievements by Klondike since they entered the Qatari market just two years ago with demonstration installations in two major international companies. “This announcement by Klondike is very welcome and shows what is possible for Irish companies in this region. This step towards a joint venture is a great endorsement of the growth in relationships between Ireland and Qatar and the facilitation of opportunities for Irish exporting businesses.”