Move will help boost production capacities as MENA customer demand grows
UAE-based Dana Group has announced its full acquisition of the plant and machinery assets of ETA Profiles, a division of the Dubai-head-quartered ETA-ASCON Group.
Dana hopes the move will help its profiles and cladding division of its Dana Steel Processing Industry subsidiary to boost its production capacities in order to meet the firm’s growing customer base in Middle East and North African markets.
Although the financial terms of the deal have not been disclosed, Dana Group said ETA Profiles’ assets are valued at $5.5m. Launched in 1995, ETA Profiles sells its products in the local market, and exports 20% to other countries in the GCC region and in Africa.
Dana will relocate the plant and machinery acquired from ETA Profiles to DANA Steel’s existing plants in Al Jurf, Ajman and Emirates Modern Industrial Area in the Emirate of Umm al-Quwain.