On 3rd November’20, Qatar Aluminium Extrusion Co (QALEX), announced the acquisition of the assets of Abdul Noor Aluminium Extrusion Factory.
Abdul Rahman bin Abdullah Al Ansari, Chairman of QALEX and Jassim Abdul Noor, Chairman of Abdul Noor Aluminium Extrusion Factory signed the purchase agreement.
The deal was funded in cooperation with Qatar Development Bank (QDB), who manifested full cooperation as part of their mission to support small and medium enterprises and industrial sectors in general within Qatar, by increasing QALEX’s paid-up capital, through a call-up from the Authorized Capital of QR100m from the partners of QALEX.
The partners of QALEX are Qatar Industrial Manufacturing Company (QIMC), in collaboration with other leading companies such as Salam International Investment Limited (SIIL), Aluminium Technology and Auxiliary Industries (ALUTEC), Qatar Belgium Aluminium Company (QBEL), Qatar Oman Investment Co. (QOIS), Qatar Real Estate Investment Co (ALAQARIA) and Aluminium Gulf Ray (AGR). QALEX was established in 2009 by an Authorized Capital of QR100m.
Abdul Rahman bin Abdullah Al Ansari, Chairman of QALEX said: “With this deal, the company’s production capacity will increase to 30,000 metric tonnes per annum of aluminium extruded profiles - in all types of finishes and colours.”
The Chairman also added: “QALEX will be able to cater the local market requirements in all aluminium extruded profiles, which are mainly used in many projects of Qatar to host the World Cup 2020 and achieve Qatar’s National Vision 2030.”
QAMCO (Qatar Aluminium Manufacturing Company) – being one of the biggest producers of aluminium in the region, has been the supplier of raw materials for QALEX.
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QAMCO is recycling all aluminium scraps which have a great impact on the environment in terms of reducing the Carbon (CO2) Emission.
QALEX has secured the approval of the International System Companies to extrude their systems in Qatar.
The major international markets for QALEX exports include Kuwait, Jordan, Belgium, Tunisia, Morocco, Iraq, France, Holland, Canada, Australia and USA, and its products have a good reputation in these markets.
Al Ansari concluded by saying: “Abdul Noor Aluminium Extrusion Factory, on the other hand, will continue to supply the local market with their current aluminium system in addition to their powder coating service and trading of aluminium profiles in cooperation with QALEX. On this respect, QALEX signed a long-term supply agreement with Abdul Noor Aluminium Factory to supply to them all the aluminium profiles used in their BREDI SYSTEM in addition to all other future systems related to windows, doors and façades which Abdul Noor will develop to cater the needs in the local market.”
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