DUBAL Holding acquires majority stake in aluminium extrusion company
DUBAL Holding has acquired 60% stake in UAE’s aluminium extrusion company OSE Industries. The acquisition will help OSE to grow its business rapidly in the UAE as well as overseas.
Established in 2012 as a family run business, OSE, established in 2012, produces Multiport Extrusion Tubes, MPE Tubes, and Precision Tubes for automotive, HVAC and solar sectors.
OSE’s specialised products will see increased in demand from the steadily evolving Electrical Vehicle Manufacturers and the use of aluminium rolled tubes by the Heating, Ventilation & Air Conditioning, HVAC, sector.
Ahmad Bin Fahad, Acting CEO of DUBAL Holding and Othman Sharif, the President and Chairman of OSE signed the deal on 30th November 2020.
DUBAL Holding, established in 2014, has portfolio of assets including a 50 percent stake in Emirates Global Aluminium, a minority stake in a Calcined Petroleum Coke facility based in China and a 50 percent stake in an under development 625MW CCGT power plant at EGA, Jebel Ali along with Mubadala.
Former Malaysian Transport Minister “Tan Sri Chan Kong Choy” acquires 10.18% stake in Aluminium extrusion firm P.A. Resources
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