Qatar Industrial Manufacturing Company Announces the Signing of an Agreement to Purchase Stake in an Associate Company

Qatar Industrial Manufacturing Company (QIMC) announced that it has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing the company's stake to 52%. Mr. Abdulrahman Al Ansari, CEO of QIMC, stated that QALEX was established in 2009 with a capital of 100 million Qatari riyals. The company produces 30,000 tons of aluminum profiles in various shapes and colors annually to meet the needs of the local market, which is witnessing increasing growth in the construction sector. The company exports its products to more than twenty countries worldwide, citing their high quality and competitive prices. QIMC hopes this deal will have a positive impact on the company's profits and shareholder dividends in the medium term