Ducab Metals Business is eyeing a revenue boost of more than $40m after acquiring GIC Magnet.
Ducab Metals Business (DMB) has announced the acquisition of GIC Magnet as part of its ongoing efforts to expand its product portfolio and global market presence.
This acquisition marks a significant milestone in DMB’s journey to enhance innovation, sustainability, and influence within the metals industry.
Ducab Metals Business
By integrating GIC Magnet’s expertise and capabilities, DMB will unlock new growth opportunities, tap into diverse industry verticals, and deliver increased value to its customers and stakeholders across multiple sectors.
Mohamed Al Ahmedi, Chief Executive Officer of Ducab Metals Business, said: “The acquisition of GIC Magnet expands DMB’s downstream product offering and aligns with our diversification strategy to expand our market presence and broaden our portfolio on a global scale.
“By penetrating wider markets and advanced economies, the company will achieve sustainable revenue growth of $40.5m.
“This strategic move reinforces our commitment to innovation and sustainability, providing our customers with a comprehensive range of high-quality, eco-friendly solutions that meet their evolving needs.
“With the demand for these products in various industry segments growing at a CAGR of 2.5 per cent globally, this acquisition strengthens our ability to efficiently serve diverse industrial requirements and create long-term value for our stakeholders.”
The acquisition of GIC Magnet under the DMB umbrella introduces a unique product line to the company’s offerings of copper and aluminium strips utilized in various key sectors such as:
- Automobiles
- Transformers
- Transportation
- Shipping
- Motors
- Electric vehicles
- Electromagnet applications
Through this acquisition, DMB plans to fortify its presence globally and become one of the key players in downstream products in the non-ferrous metals industry.
The company’s commitment to innovation and adaptability supports its growth. GIC Magnet’s position as the sole supplier from the region with US market approval for paper-insulated aluminium strips sets DMB apart in the competitive landscape.
Amit Shah, of GIC Magnet, said: “We are pleased to join DMB and contribute our expertise to their global operations. Integrating our capabilities into DMB’s portfolio will enable the company to expand its product offerings and serve a broader customer base.
“We are confident that this acquisition will drive the metal industry’s sustainable growth.”
DMB’s acquisition of GIC Magnet is a positive step towards our continued growth projection and customer-centric approach to being the best in class for metal solutions.
Follow us on
