Liberty House in talks to acquire aluminium, steel assets in the UAE

Liberty House, the industrial group owned by Sanjeev Gupta, is in talks to acquire aluminium and steel assets in the UAE as the company looks to expand its presence in the Middle East, according to news published by The National.

David Dawson, the chief executive of Liberty House Industries, a unit of the parent company, said: “We are significantly advanced on two particular acquisitions and hope to make some announcement in the next year.”

“We are keen to establish our industrial presence in the Middle East and what we are really doing in many ways is replicating our global strategy.”

Mr Dawson said that the Liberty House Industries expects its revenue to grow up to 20% in 2019 in the region if the acquisition in the UAE is finalised.

“Despite some market challenges around the region, we have shown good growth in 2018 and we are looking at further growth in 2019. The UAE is an area where we can see sustainable growth for the long-term and that is what drives us as an organisation.”

Liberty House Industries is also expanding globally and is seeking acquisitions in Europe, the US and India.

“There are three key acquisitions we are looking on and we expect them to be successful and conclude in the first quarter next year,” he said. “If we are successful, revenue next year will be $20bn.”

Mr Dawson added: “We don’t have any concerns about tariffs. Some of the products we export into the US, these products are of such quality and grade, that they are not made in the US. So tariffs are not impacting these products.”