Dubai Investments Completes Acquisition Of Saudi American Glass Company

Dubai Investments PJSC (DI) has completed the acquisition of Saudi American Glass Company (SAGC) following more than 18 months of negotiations.

This deal formalises that SAGC will now operate as a wholly-owned subsidiary of Dubai Investments.

Saudi-based SAGC is the region’s first and one of the largest Middle Eastern glass manufacturers, annually supplying more than 3 million metres of glass. The company is the latest addition to DI’s expanding portfolio of subsidiaries and the acquisition is expected to increase DI’s market penetration.

“We are delighted to finalise this deal as negotiations have been lengthy and this company is a valuable asset to any investment portfolio. Saudi American Glass Company is a well established and highly reputable company with many notable clients and we are happy to acquire a company with such expertise,” said Khalid Kalban, Managing Director and Chief Executive Officer, Dubai Investments.

“The glass manufacturing industry is currently struggling to keep up with the glass demand created by the booming property development sector in the region. Acquiring a high-production, well-entrenched company such as Saudi American Glass Company represents a golden opportunity for us to strengthen our investments portfolio by continuing to invest in companies that will bring increased revenue for our shareholders,” Kalban added.

Read the entire news on the source link below.

600450 Dubai Investments Completes Acquisition Of Saudi American Glass Company
Date: 14 December 2006

See more news about:

See more from these topics:

Others also read

Construction of AED 550mn MAG 318 due to complete in Q4 2019.
Strohmeier will drive Building Technologies business for digitalized infrastructure in the Middle East.
More than 180 countries will participate at event which is expected to receive 25mn visitors.
dmg events Middle East, Asia & Africa, the leading international exhibition and publishing company, has announced that the 2018 edition of the Windows, Doors & Facades (WDF) event will take place from 23 – 25 September at the Dubai World Trade Centre.
The event will be co-located with the all new HVACR Expo, the Urban Design & Landscaping Expo, and The Big 5 Solar.
The one-day conference focused on different aspects of the architectural glass sector, and included presentations by experts from leading international glass companies and related industries.

Add new comment