Aamal Company Q.P.S.C., one of the most prominent diversified companies in the region, announces the completion of its acquisition of the share of the partner (Afaq World Arab Company) in the Advanced Pipes and Casts Company. With this, Aamal will now own a 100% stake in the acquired company through its wholly owned subsidiary, Aamal Readymix.
On this occasion, Mr. Rashid bin Ali Al Mansouri, CEO of Aamal Company Q.P.S.C., said:
“This acquisition represents an important step in our strategy to strengthen Aamal’s position in the industrial production sector in Qatar. With the full ownership of the company, we now have greater flexibility to implement targeted improvements and drive the growth of Advanced Pipes and Casts. We are confident that this step will advance the full potential of Aamal, allowing us to contribute to achieving Qatar’s infrastructure development goals further while providing added value to our shareholders and all stakeholders. We at Aamal are committed to investing in everything that enhances self-sufficiency and industrial diversification in Qatar, in line with the country’s vision for a sustainable and diversified economy.”
It is worth noting that Advanced Pipes and Casts Company was established in 2010 to be one of the leading pipe manufacturers in the Middle East. The company manufactures a wide range of products that include precast circular concrete manholes, reinforced concrete pipes, and precast concrete structures.
