03-11-2020
The Qatar Aluminum Extusion Company (QALEX) signed an agreement to purchase the assets of the Abdulnour Aluminum Extrusion Factory. The agreement was signed by the Qatari Aluminum Extrusion Company, Mr. Abdul Rahman bin Abdullah Al Ansari, Chairman of the Board of Directors, and Mr. Jassim Abdulnour, Chairman of the Board of Directors of the Abdulnour Aluminum Extrusion Factory. This transaction was funded in cooperation with Qatar Development Bank, who showed full cooperation to complete this deal as part of the bank’s strategy to support small and medium industries and the industrial sector in general within the State of Qatar, as the paid-up capital was increased by the inducting a part of the authorized capital of 100 million Qatari riyals from Shareholders of the Qatari Aluminum Extraction Company.
Note that the shareholders of the Qatar Aluminum Extrusion Company are the Qatari Industrial Manufacturing Company, in partnership with a group of leading companies, Salam International Investment Limited, the Supplementary Company for Aluminum Industries, the Qatari-Belgian Aluminum Company, Qatar Oman Investment Company, Qatar Real Estate Investment Company and Shuaa Al Khaleej Company. For aluminum and glass, as the Qatar Aluminum Extrusion Company was established in 2009 with an authorized capital of 100 million Qatari riyals.
The Chairman of the Board of Directors of the Qatar Aluminum Extrusion Company, Mr. Abdul Rahman bin Abdullah Al-Ansari, stated that with this deal, the production capacity of the Qatar Aluminum Extrusion Company will double and become 30 thousand tons annually of aluminum profiles in all shapes and colors, and the production capacity will be as follows:
• The production capacity of drawing presses is 30,000 tons / year
• The production capacity of thermal paint is 15,000 tons / year
• The production capacity of anodizing 6,000 tons / year
• The production capacity of wood-look Aluminum is 1,400 tons / year
Mr. Abdul Rahman bin Abdullah Al-Ansari added that the Qatar Aluminum Extrusion Company (QALEX) meets the needs of the local market in all aluminum sectors, which are used in the many projects undertaken by the State of Qatar to host the 2022 World Cup and achieve Qatar Vision 2030.