CPC and Gutmann, join forces in a $90m investment in an Aluminum Extrusion and Composite Panel facility in Saudi Arabia

Dr. Faysal Alaquil, Director Business Development announced today, "The capital investment will be $90m and it will carry at an initial stage an annual production capacity output of approx. 22,000 tons of extruded aluminum, including anodizing and powder coating facilities, as well as an output of some 1.5 million square meters of aluminum composite panel. CPC will carry a 65% stake in the investment, while the remaining 35% will be controlled by Gutmann and parent ALCO. Gutmann will also provide the necessary know-how and technical support for this investment."

"CPC, a closed joint stock company, based in Jeddah provides clients with a concept of a 'One Stop Shop' facility for all their construction needs. Under the professional and experienced staff, CPC and its subsidiaries provide specialized vital construction materials ranging from precast, ready-mix, cut and bend steel, marble and granite, electromechanical systems, and electrical cables just to name a few, along with the administrative logistics support to serve the building industry under one umbrella and through one Industrial Park," Dr. Alaquil stated.

He further added, "Herman Gutmann Werke AG, located in Weissenburg, Germany, has been engaged in the aluminum extrusion business for more than 70 years, and is part of ALCO Group of Companies, (Parent company ALCO Hellas SA, is listed on the Athens Stock Exchange). It is currently one of the fastest growing groups in the aluminum extrusion sector in Europe, with production facilities in Germany and Greece and an expanding distribution network with current trading hubs in Romania, the Middle East and the US."