UAE - Mubasher: DUBAL Holding, a wholly-owned subsidiary of Investment Corporation of Dubai (ICD), has acquired 60% stake in OSE Industries, a UAE-based aluminium extrusion company, according to the Emirates News Agency (WAM).
Signed on 30 November, the acquisition is part of DUBAL Holding's objective to expand its industrial portfolio in the region and create value addition in the downstream value chain, the Acting CEO of DH, Ahmad bin Fahad, commented.
The President and Chairman of OSE, Othman Sharif, said that OSE Industries are expected to witness growth in demand from electrical vehicle manufacturers in the next few years.
OSE started commercial operations in 2015 at Dubai Industrial City to produce multiport extrusion tubes, MPE Tubes, and precision tubes.
