Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding, announced the acquisition of a 45% stake in UAE-based KEF Holding (KEF) by its Emerging Markets division.
KEF is an international award-winning provider of 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.
Established in 1997, KEF Holding, based in the Sharjah Hamriya Free Zone, is the holding company of its two flagship businesses including Emirates Techno Castings (ETC) and JC Middle East (JCME).
Collectively, ETC and JCME form the Middle East's first fully automated foundry boasting a production capacity of 36,000 tonnes per annum. KEF serves over 70 clients including leading market players in the oil and gas industries such as Takreer, ENOC, Qatar Petroleum, KOC, PDO, Qatar Gas and Tyco. KEF was recognised for its best-in-class practices, as evidenced by their award of Best Foundry in the World by Weir Clear Liquid, a division of Weir Group.