Hydro acquires remaining 50 percent of Technal Middle East

Hydro acquires remaining 50 percent of Technal Middle East
Photo source
www.hydro.com
Hydro has signed an agreement for the acquisition of Balexco’s 50 percent ownership in Technal Middle East (TME). With this transaction, Hydro will own 100 percent of the company.

Technal Middle East is a company based in Bahrain, delivering tailor-made aluminium building solutions in the Middle East. The company was established in 2000 as a 50/50 joint venture between Hydro Building Systems and the local partner Balexco.

“This acquisition will strengthen Hydro Building Systems in Asia where the market growth is amongst the highest in the world. We are grateful for the good cooperation we have had with Balexco and look forward to further accelerate the growth in the years to come,” says Egil Hogna, Head of the Extruded Solutions business in Hydro.  

The agreed enterprise value for the 50 percent share is EUR 35 million. The transaction is expected to close in Q2 2019 and is subject to regulatory approvals

600450 Hydro acquires remaining 50 percent of Technal Middle East glassonweb.com

Others also read

Organisers confirm next event will be May 2021.
WindoorEX Middle East has already proved to be a solid and reliable platform for B2B cooperation between manufacturers, suppliers and quality buyers of all hues connected to the fenestration industry in the Middle East.
The HEGLA group has seen many developments launched throughout 2019 with a drive to improve customer efficiency being the main focus.
FIT Show organisers and Building Our Skills (BOS) have joined together to launch a new campaign designed to get the entire fenestration industry discussing and challenging workplace stereotypes.
Guardian SunGuard® SN 40/23 coated solar control glass was chosen for the glazed façade, including curved sections.
2019 is the year of the pig and that has certainly proven to be the case for the industry’s top networking event, as another hugely successful calendar concluded with the ever-popular Birmingham PiGs party in November.

From industry

40 Corniche El-Nil,
Al Sharafain Tower Maadi,
Cairo Governorate
11728
Egypt

Add new comment