Dubal Holding acquires 60% stake in OSE Industries

Dubal Holding has acquired a 60 per cent stake in Dubai Industrial City-based aluminium extrusion company OSE Industries.

OSE Industries began its manufacturing operations in 2015, and now exports MPE, precision tubing and industrial piping across the Middle East and North Africa, Asia, Europe and the US.

Its clients include electric carmakers, as well as major players in the heating, ventilation and air conditioning (HVAC) sector.

Situated in Dubai Industrial City – the region’s largest manufacturing and logistics hub – near Jebel Ali Port and Al Maktoum International Airport, OSE Industries’ strategic location in Dubai Industrial City allows it to access two-thirds of the global population in eight hours.

#Dubal Holding’s decision to acquire 60% in Dubai-based aluminium extrusion company OSE Industries reflects the growth opportunities and underlying strength in Dubai’s industrial sector.https://t.co/3FV8OAW0Yw pic.twitter.com/2z4Cc2Y93P

— Dubai Media Office (@DXBMediaOffice) February 13, 2021

It has enabled it to expand quickly as electric vehicles become more popular and the HVAC sector shifts its focus to aluminium rolled tubes.

Dubal Holding, a wholly-owned subsidiary of Investment Corporation of Dubai, is focused on expanding its industrial footprint and stimulating growth in the downstream value chain.

“This deal is a major boost for Dubai’s industrial sector. It will enhance the emirate’s position as a hub for manufacturing and logistics in line with the vision of our leaders for a diversified, sustainable economy. As a strategic driver and enabler of the Dubai Industrial Strategy 2030, we work hard alongside our 750 business partners to position Dubai as a global platform for knowledge and innovation-based industries with a focus on priority sub-sectors including aluminium and fabrication metals,” said Saud Abu Al-Shawareb, managing director of Dubai Industrial City.

OSE president and chairman Othman Sharif, added: “As the shift to electric vehicles in Europe and the US steps up a gear, our business is uniquely positioned to capitalise on this evolution in the automotive market and the move towards a cleaner, greener future.”

In related aluminum manufacturing news from Dubai, the Dubai Electricity and Water Authority (DEWA) and Emirates Global Aluminium (EGA) recently reached an agreement for DEWA to supply EGA’s smelter with solar power from the Mohammed bin Rashid Al Maktoum Solar Park, located in Dubai. The move helped make the UAE the world’s first country to produce aluminium using solar power.

Read: UAE becomes world’s first country to produce aluminium using solar power