Aamal Announces Full Acquisition of Advanced Pipes and Casts Company (APC) Through its Fully Owned Subsidiary, Aamal Readymix
Aamal Readymix, a subsidiary of Aamal Company Q.P.S.C., assumes full ownership of Advanced Pipes and Casts (APC)
Doha – Qatar, 11 November 2024: Aamal Company Q.P.S.C., one of the region’s leading diversified companies, today announces that it has completed the acquisition of its partner Afaq Alalam Alarbi Company’s shares in Advanced Pipes and Casts Company (APC). With this transaction, Aamal now has 100% ownership of APC through its wholly owned subsidiary, Aamal Readymix.
Commenting, Mr. Rashid bin Ali Al Mansoori, CEO of Aamal Company Q.P.S.C., said:
“This acquisition marks another important step in our strategy to further strengthen Aamal’s position within Qatar’s industrial manufacturing sector. With full ownership of APC, we now have greater flexibility to implement targeted improvements and to drive growth. We are confident that this will unlock APC’s full potential and allow us to further support Qatar’s infrastructure development goals, while simultaneously delivering greater value to Aamal’s shareholders and stakeholders. We are committed to investing in capabilities that enhance Qatar’s self-sufficiency and industrial diversity, in line with our nation’s vision for a sustainable, diversified economy.”
Established in 2010, APC is a leading pipe manufacturer in the Middle East, producing a wide range of products including circular pre-cast concrete manholes, reinforced concrete pipes, and pre-cast concrete structures.
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Further enquiries: Aamal Company |
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Laura Ackel – Corporate Communications Officer |
T: +974 6671 6576 |
Aamal is one of the Gulf region’s most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 11th November 2024, the Company had a market capitalisation of QAR 5.54 bn (US$ 1.51 bn).
Aamal’s operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development.
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