Aamal Company, the Qatar-based leading diversified group, said its board of directors approved an increase of its equity stake in Frijns Structural Steel Middle East.
The stake hike will be done through the acquisition of an additional 20 per cent shareholding from a related party.
Currently, Aamal Company owns a 20 per cent stake in Frijns Structural Steel M.E., which will go up to 40 per cent post additional share acquisition.
The move is part of Aamal’s ongoing efforts to implement its growth strategy and strengthen its position in the industrial manufacturing sector.
Frijns Structural Steel M.E. is one of Qatar’s leading companies in the industrial manufacturing sector, and has been operating in the local market since 2009.
The company specialises in the production of steel for petrochemical and other industrial applications, providing a comprehensive range of services including engineering, production, corrosion protection, construction, and assembly.
Rashid Al Mansoori, CEO of Aamal Company, said the company firmly believes in strategic expansion and enhancing its industrial investments in alignment with Qatar National Vision 2030.
“Increasing our shares in Frijns Structural Steel M.E. represents a significant step toward underpinning our position in the industrial manufacturing sector and strengthening our ability to support major projects that contribute to sustainable development,” he said.
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