Latest news with #KhaledAbdel-Moneim
Argaam
18-02-2025
- Business
- Argaam
ALUPCO controls 40% of local aluminum market, eyes Saudi listing in 2026: CEO
Aluminum Products Co.'s (ALUPCO) CEO, Khaled Abdel-Moneim, said that the company's market share in the aluminum sector stands at 40%, a figure achieved by the end of 2024. He expressed optimism for further growth in the coming period, despite challenges related to price fluctuations and competition. ALUPCO holds a 40% share of the local aluminum market, while its share in the wood sector is 20%, Abdel-Moneim pointed out during an interview with Argaam during the Private Sector Forum 2025. The company operates in numerous international markets, including the Gulf countries, the Middle East, North Africa, as well as India, Germany, the United States, and Canada, with a total presence in 26 countries, with plans to expand into additional markets in the future. The CEO highlighted that the company manufactures window and door systems in the aluminum sector. In the wood sector, ALUPCO produces around 120,000 doors and kitchens, in addition to executing major projects such as the Red Sea Project and collaborating with various investment companies and contractors in both local and regional markets, including the New Administrative Capital in Egypt. The sector experienced significant growth after a period of stagnation, which prompted the company to increase investments and boost its production capacity to keep up with the growing demand driven by large-scale projects in Saudi Arabia. The competition remains fierce, especially with the influx of Chinese products at low prices, as well as products from Gulf countries such as Bahrain and the UAE, the executive added. Regarding the U.S. tariffs on aluminum imports, the CEO anticipates that these tariffs will negatively impact aluminum prices in the U.S. market. However, they could put all exporters on equal footing. Abdel Moneim confirmed that the company is actively working towards listing on the Saudi Stock Exchange (Tadawul), with a clear intention to list in H2 2026, benefiting from the significant growth in the Saudi market, one of the largest markets in the region and the world. ALUPCO was stablished in 1975 and operates in several sectors, including aluminum, wood, steel, and raw materials, providing services to various industries such as construction, energy, water, and Saudi Aramco, rendering the company a multi-service entity.
Argaam
12-02-2025
- Business
- Argaam
ALUPCO to list shares on Tadawul next year
Aluminium Products Co. (ALUPCO) intends to go public on Tadawul in the second half of 2026, said CEO Khaled Abdel-Moneim. In an interview with Asharq Bloomberg on the sidelines of the Public Investment Fund (PIF) Forum, Abdel-Moneim said ALUPCO ranks among the top 100 companies in Saudi Arabia, with sales in the billions. He added that the company is owned by the heirs of Sheikh Hashem (40%), Olayan Group (30%), and Bahamdan Group (30%), noting that the shareholders will retain their stakes following the IPO. Given its large production scale, ALUPCO collaborates with all Saudi banks and the Saudi Export-Import Bank (Saudi EXIM), with total loans amounting to approximately SAR 350 million, the CEO noted.
