Sulja Bros. Building Supplies, Ltd (SLJB)

[greenspirit]

Just to clarify a bit. Here are two bits of data in regard to overseas involvement.

This first article comes from an online website, which is a mirror reflection of a newspaper that is the most widely read English newspaper in the Gulf area. So there is no confusion. This article is from August 21, 2006.

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Wessal to buy 25% stake in Sulja Bros

http://archive.gulfnews.com/articles/06/08/21/10061629.html

Dubai: Wessal international group has announced that it intends to purchase 25 per cent of Sulja Brothers in the open market. Sulja Bros Building Supplies Inc is a publicly listed company on the stock exchange in the US and specialises in the sale of building supplies. Wessal International Group's President Ahmad Khalil Al Muslamani stated that the purchase will enable Wessal International Group to lead the way in the construction and real state industry in the Gulf.
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When you check the website using http://www.alexa.com you can see the website has been around since 1995 and receives over 300K hits a day. (that last statement is from memory, alexa appears to be down right now).

The second article below is from the website http://www.godubai.com. It is a unique article. When someone posted it the other day and others looked at the website where it came from, today's date is shown at the top of the website page (that is an auto feature of the site).

That is not the date of the article. The article can be found in the archives search engine located in the lower right hand corner of the web page. I believe that's why no one noticed it before. After 24 hours the search box at the top right, only shows you articles written for that day. So, unless you were scanning the website, you would have missed it. I believe I checked this website a few times over the past few months, but only used the top search button instead of the archived one. When you type in Sulja in the archive search box and select "Search Article Content", two articles mentioning the Sulja name appear. Here is the title of those articles.

Sulja builds design depot ( Business ) :: 27 Aug 2006
Sulayem for more cement imports ( Business ) :: 13 Aug 2006

The first one is nothing more than a rehash of a pr put out by SLJB. However, the second one is a unique article written by the business section of that website. It was published 13 Aug 2006.

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Sulayem for more cement imports

BY OUR BUSINESS BUREAU

UAE is encouraging cement importation to push the market prices lower and meet demand in the construction industry, a senior official of Dubai Ports Authorities said.

"We are encouraging cement importation to the UAE, because the market price at present is high and as with all fair trade markets, we do not want to enforce price restrictions," Dubai Ports Authority (DPA) and Nakheel Chairman Sultan Bin Sulayem said.

According to a Middle East Economic Digest (Meed) report, US-based Sulja Bros. Building Supplies Ltd is seeking a listing on the Dubai International Financial Exchange.

A spokesperson said: "Recent deals have generated great interest in Sulja Bros. Building Supplies Ltd. We are now working with one of the largest investment banking firms to complete the listing of Sulja Bros. on the Dubai International Financial Exchange."

CEO Steve Sulja stated: "Our recent dealings in the Gulf region have greatly attracted the attention of the regional investors. We are very excited and working diligently to provide these savvy investors with a Dubai listing. We warmly welcome the Middle Eastern investors to the Sulja family of shareholders and look forward to even further expansion in this and other regions."

The UAE faces a shortage in the cement production industry by about five million tonnes per year, forcing it to import cement to facilitate the needs of the construction industry, the Meed report said.

A Sulja spokesperson stated, "We are currently receiving numerous requests for cement in the Dubai region and we are aggressively working to meet our client's needs."

Moreover, CEO Sulja said, "We conservatively expect the sale of the cement in Dubai to reach $180 million over the next twelve months. Furthermore we are negotiating a continuous and competitive supplier of structural steel. Another product in short supply in the region."

http://www.godubai.com/gulftoday/articlearc.asp?AID=78377&Section=Business
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Sorry being so long with this post, but I wanted to clarify the issue. What it all means is still a bit cloudy. But that's the data the way I see it at this point.