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Ducab Metals Business strengthens global position with acquisition of GIC Magnet

Ducab Metals Business (DMB), a leading provider of high-quality copper and aluminum solutions, has announced the strategic acquisition of GIC Magnet as part of its continued efforts to expand its product portfolio and global market presence.

This acquisition marks an important milestone in DMB’s journey to increase innovation, sustainability and influence within the metals industry, a statement said.

By integrating GIC Magnet’s expertise and capabilities, DMB will unlock new growth opportunities, tap diverse verticals and deliver greater value to its customers and stakeholders across multiple industries, the company 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,” said Mohamed Al Ahmedi, Chief Executive Officer of Ducab Metals Business.

“By penetrating broader markets and advanced economies, the company will achieve sustainable revenue growth of $40.5 million. This strategic move reinforces our commitment to innovation and sustainability, offering our customers a comprehensive range of high-quality, environmentally friendly solutions that meet their evolving needs. With demand for these products growing at a CAGR of 2.5% across various industrial segments globally, this acquisition strengthens our ability to efficiently meet diverse industrial needs and create long-term value for our stakeholders,” said he.

Strategic benefits and impact on the sector

The acquisition of GIC Magnet under the DMB umbrella introduces a unique product line to the company’s copper and aluminum strip offerings used in several key industries such as automotive, transformers, transportation, marine, motors, electric vehicles and electromagnetic applications. DMB tailors its product offering to these sectors to meet rising market demand, making it well positioned.

Through this acquisition, DMB plans to strengthen its presence globally and become one of the key players in downstream products in the non-ferrous metal industry. The company’s commitment to innovation and adaptability underpins its growth. GIC Magnet’s position as the region’s only supplier with US market approval for paper-insulated aluminum strips differentiates DMB in the competitive landscape.

“We are pleased to join DMB and contribute our expertise to their global operations,” said Amit Shah of GIC Magnet. “Integrating our capabilities into DMB’s portfolio will enable the company to expand its product offering and serve a broader customer base. We are confident that this acquisition will drive the sustainable growth of the metals industry.”

The acquisition of GIC Magnet by DMB is a positive step towards our continued growth projection and customer-centric approach to be the best in class in metal solutions, the statement said. –TradeArabia News Service