Dubai-based international investment company Dubai International Capital LLC (DIC), a wholly owned subsidiary of Dubai Holding, has announced the acquisition of a 45 percent stake in United Arab Emirates-based steel casting provider KEF Holding (KEF).
KEF Holding, based in the Sharjah Hamriya Free Zone, supplies steel castings for valves and pumps serving the oil and gas, mining, and chemical industries in the Middle East, Asia, Europe, and the United States. KEF is the holding company of Emirates Techno Castings and JC Middle East, which collectively form the Middle East's first fully automated foundry, boasting a production capacity of 36,000 mt per annum.
The acquisition further diversifies DIC's portfolio of market-leading companies and is in line with its strategy to focus on the emerging markets and Asia as key drivers of its growth.