Qeshm Medkandalovi Floating Cooperative Company was established in Qeshm Island, Kandalo region in 1385 with the aim of producing and repairing all kinds of fiberglass, aluminum and steel floats. Relying on the strength and talent of the local forces and using the modern technology, this company has been able to take a step towards the growth and excellence of the shipbuilding industry in the region. Creating employment, employing local forces in the region, helping national production, improving the quality and quantity of the shipbuilding industry in the region, etc. are among the other goals of establishing this company.