Qatar Aluminium Extrusion Company (QALEX) signed an agreement to purchase the assets of Abdul Noor Aluminium Extrusion Factory. With this deal in place, QALEX’s production capacity will increase to 30,000mt per year and the company will enter manufacturing of several types of aluminium extruded profiles.
The Qatar Development Bank has financed this deal. Qatar Industrial Manufacturing Company (QIMC) and Salam International Investment Limited (SIIL) are some of the partners of QALEX. The company was established in 2009 with a capital investment of QAR100mn ($27.47mn)
With the acquisition of Abdul Noor Aluminium Extrusion Factory, the company will have 15,000mt of production capacity for powder-coated aluminium profiles, 6,000mt of anodizing extrusion profiles and 1,400mt of wood coating profiles.
QALEX added that extruded profiles will be used in several projects in Qatar including the upcoming World Cup 2020. QALEX sources its raw material from aluminium recycling company Qatar Aluminium Manufacturing Company.