Corporate Profile
Al Ghurair Iron & Steel Print E-mail
Al Ghurair Iron & Steel (AGIS), a subsidiary of the Al Ghurair Group and the first steel cold rolling & galvanizing complex in the UAE, has entered into a strategic alliance with Nippon Steel Corporation (NSC)

 - Japan’s largest and one of the biggest steel makers in the world - with an actual production of 35 million metric tons in 2010 financial year. AGIS, located in the Industrial City of Abu Dhabi (ICAD), Mussafah, Abu Dhabi, commenced commercial production in 2009 with a pickling-line, a cold-rolling mill, and a galvanizing-line. Since the first year of commercial production, AGIS has achieved a high level of operation and sales, by taking advantage of its location in the UAE as an international physical distribution base while expanding its customer network in the market of flat steel products applied to construction in the Middle East, North Africa (MENA) and West Asia.

NSC has signed an agreement for equity investment in AGIS through a share transfer by which, NSC is to secure 20% of voting rights in AGIS, with AGIS becoming an equity method affiliate of NSC for accounting purposes. The Al Ghurair Group, through its investment company-SAG Investments & Trading LLC now holds 80% shares in AGIS.  The formal agreements were signed by Mr. Majid Saif Al Ghurair, Managing Director, SAG Investments & Trading LLC and Mr. Shinya Higuchi, Managing Director, NSC on 13th November, 2011 in Dubai.

The agreement brings the strengths of NSC and AGIS, by leveraging NSC’s technical strengths and global network and AGIS's local industry and market expertise to deliver high quality galvanized steel in a very cost effective and efficient manner to customers in the region.

The new Board of Directors of AGIS comprises of Mr. Majid Saif Al Ghurair, Mr. Ahmed Husain Lafir, Mr.Saeed Saif Al Ghurair, Mr. Abu Bucker Husain & Mr.Hideki Ogawa. Mr. Majid Al Ghurair continues to be the Chairman of the Board of Directors of AGIS. There will be no change in the day-to-day management of the company and Mr. Abu Bucker Husain shall continue as the Chief Executive Officer of AGIS.

"NSC's technical strengths and resources will be of great benefit particularly during our upcoming expansion program to double our galvanizing capacity” said Mr. Abu Bucker Husain, CEO, AGIS. “AGIS and NSC share a clear focus on delivering superior quality products to their Customers as well as having s strong commitment to employee safety and protection of environment. Additionally, the combination of the companies’ global and local strengths will ensure a consistent supply of high quality raw material for our operations.”

“By teaming up with one of the leading top tier global steel makers, AGIS will be able to leverage NSC’s global network and vast resources to enhance its presence and impact a larger audience both locally and regionally,” continued Mr. Husain. “We are pleased to combine our strengths to meet the growing demands of the marketplace.”
HCF International Advisers Limited (Formerly Hatch Corporate Finance) team, led by Rama Ayman, was the exclusive financial adviser and Dewey & LeBoeuf LLP was the legal counsel to AGIS in this deal.

HSBC Bank Middle East is the lead banker for AGIS and has provided term loan and working capital for the company. It has also evinced keen interest in financing the Phase II expansion of AGIS. 


 

 About AGIS

Company NameAl Ghurair Iron & Steel LLC
Establishment2006
Plant & OfficeP.O. Box 106065, Abu Dhabi, UAE
Phone
+971 2 659 3400
Products
  • Hot Rolled Pickled & Oiled
  • Cold Rolled Full Hard
  • Galvanised Steel
Number of Employees365
Turnover (2010-11)AED 728 Million

 

 

 

 

 

 

 

 

 


 About NSC

Company NameNippon Steel Corporation
Establishment1970
Head Office6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8071, Japan
Phone
+813 6867-4111
Business outline
  • Steelmaking
  • Engineering & Construction
  • Urban Development
  • Chemicals
  • New Materials
  • System Solutions
Number of Employees16,150
(Number of persons employed by the company as for March 31, 2011)
Net Sales4,109,774 million yen (approx. $49.4 Billion) - Consolidated, FY2010

 

 

 

 

 

 

 

 

 




 
Newsflash
Al Ghurair Iron & Steel
Al Ghurair Iron & Steel (AGIS), a subsidiary of the Al Ghurair Group and the first steel cold rolling & galvanizing complex in the UAE, has entered into a strategic alliance with Nippon Steel Corporation (NSC)
Read more...
 
Popular
Know Dubai
© 2014 Al Ghurair Group