Ducab Metals Business acquires GIC Magnet to expand its global presence

By Shilpa Annie Joseph, Official Reporter
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Ducab Metals Business acquires GIC Magnet
Officials during the signing ceremony | DMB

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

This acquisition marks a significant milestone in DMB’s journey to enhance innovation, sustainability, and influence within the metals industry.

By integrating GIC Magnet’s expertise and capabilities, DMB will unlock new growth opportunities, tap into diverse industry verticals, and deliver increased value to its customers and stakeholders across multiple sectors.

Mohamed Al Ahmedi_Ducab_Baker Hughes partnership
Mohamed Al Ahmedi

“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. By penetrating wider 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, providing our customers with a comprehensive range of high-quality, eco-friendly solutions that meet their evolving needs.”

“With the demand for these products in various industry segments growing at a CAGR of 2.5 percent globally, this acquisition strengthens our ability to efficiently serve diverse industrial requirements and create long-term value for our stakeholders,” commented Al Ahmedi.

The acquisition of GIC Magnet under the DMB umbrella introduces a unique product line to the company’s offerings of copper and aluminum strips utilized in various key sectors such as automobiles, transformers, transportation, shipping, motors, electric vehicles, and electromagnet applications.

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

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