Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding, acquires 45% stake in UAE-based KEF Holding (KEF) by its Emerging Markets division.
KEF Holding is the holding company of its two flagship businesses including Emirates Techno Castings (ETC) and JC Middle East (JCME). Weir Clear Liquid recognised KEF as Best Foundry in the World for the Middle East’s first fully automated foundry boasting a production capacity of 36,000 tonnes per annum.
KEF provides steel castings for valves and pumps serving the oil and gas, mining, industrial, and chemical industries in the Middle East, Asia, Europe, and the United States.
DIC congratulates KEF on creating its dynamic technology-based platform that will allow it to maximise its full growth potential and capture opportunities in new industries, products and geographies,” says Anand Krishnan, chief operating officer, Dubai International Capital. “DIC is proud to complement its existing portfolio of technical manufacturing companies with the addition of KEF and will strive to add value by building synergies and relationships among all parties.”
We are delighted to choose DIC as our strategic partner and shareholder, says Faizal Kottikollon, CEO, KEF Holding. DIC’s ability to leverage their strong relationships in our key target growth markets, mainly Saudi Arabia and India, will elevate KEF’s ready capabilities and talent. We are confident that with DIC’s market experience and guidance, KEF will be ready for an initial public offering in the near future.”
L.D.