UAE - Mubasher: Dubal Holding, a wholly-owned subsidiary of Investment Corporation of Dubai, has acquired a 60% stake in Dubai Industrial City-based OSE Industries, an aluminium extrusion company.
Located near Jebel Ali Port and Al Maktoum International Airport, OSE Industries enables the trade businesses to have access to two-thirds of the global population because of its strategic location, according to a recent press release.
With manufacturing operations since 2015, OSE Industries now exports multiport extruded (MPE) tubes across the Middle East and North Africa, Asia, Europe, and the US.
The company's clients include a well-known US electric carmaker and major players in the heating, ventilation, and air conditioning (HVAC) sector.
The OSE President and Chairman, Othman Sharif, commented: "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."
Meanwhile, the Managing Director of Dubai Industrial City, Saud Abu Al-Shawareb, remarked: "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."
