Oman Business: Al Maha acquires 45pc of Al Hael Ceramics Company – Gulf Digital News

Oman Business: Al Maha acquires 45pc of Al Hael Ceramics Company – Gulf Digital News

Al Maha Ceramics, one of the largest ceramic tiles manufacturers in Oman, has announced the acquisition of a 45% stake in Al Hael Ceramics Company.

As part of the transaction Al Maha will operate Al Hael for a period of five years, with a possibility of extending for another five years, thereby allowing Al Hael to benefit from Al Maha’s extensive experience in the production and sales of tiles.

In return Al Maha will receive OMR120,000 ($312,095) as a service fee during the first two years and in subsequent years it will be entitled to 10% of the net profits.

Combined capacity of 24m sq m

Al Maha and Al Hael will have a total combined capacity to produce over 24 million sq m of porcelain and ceramic tiles. It will become one of the largest tiles produces in the GCC and the only producer of porcelain tiles in Oman. It will therefore be in a favourable position to serve Oman and the GCC demand for ceramic and porcelain tiles.

Al Maha plans to start producing its first tiles at Al Hael factory in November 2022. The factory is expected to create over 300 jobs and will support Oman’s Vision 2040 of diversifying Oman’s economic