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26 MARCH 2019 AL CIRCLE

Hydro acquires aluminium building solutions company in the Middle East

EDITED BY : HEENA IQBAL 1MINS READ

Hydro announced that the company has acquired remaining 50 per cent of Technal Middle East (TME). Based in Bahrain, Technal Middle East supplies tailor-made aluminium building solutions in the Middle East.

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Egil Hogna, Head of the Extruded Solutions business in Hydro said: “This acquisition will strengthen Hydro Building Systems in Asia where the market growth is amongst the highest in the world. We are grateful for the good cooperation we have had with Balexco and look forward to further accelerate the growth in the years to come.”

Hydro has inked an agreement to acquire Balexco’s 50 percent ownership in TME. The transaction is expected to close in the second quarter of 2019. With this transaction, Hydro will own 100 percent of the company.

Established in 2000, TME was a joint venture between Hydro Building Systems and the local partner Balexco.


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EDITED BY : HEENA IQBAL 1MINS READ

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