Dubal’s OSE acquisition a major boost for Dubai

Dubal’s OSE acquisition a major boost for Dubai

Picture used for illustrative purpose only. Dubal Holding's decision to acquire a majority stake in Dubai-based aluminium extrusion company OSE Industries is a major vote of confidence in the UAE economy, according to Dubai Industrial City. The region's largest manufacturing and logistics hub, home to OSE Industries, lauded the deal as a reflection of the growth opportunities and underlying strength in Dubai's industrial sector. OSE Industries began 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 a well-known US electric carmaker, as well as major players in the heating, ventilation and air conditioning (HVAC) sector. Dubal Holding's acting chief executive officer, Ahmad Bin Fahad, said: "We have strong faith in the fundamentals of Dubai's economy and continue to actively explore investment opportunities in key growth sectors to create value and downstream opportunities. Our agreement with OSE Industries underscores our resolute confidence in the emirate's industrial ecosystem. I would also like to commend Dubai Industrial City's role in creating a vibrant ecosystem with infrastructure and an enabling environment to help companies scale and grow."OSE President and Chairman, Othman Sharif, added: "As the