10 May 2010
(MENAFN) General Holding Corporation (GHC), the parent of Emirates Steel, said that it will spend as much as $10 billion over the next few years to expand its business through acquisitions and internally, Reuters reported.
The firm’s Vice Chairman, Hussain Al-Nowais, said that GHC’s cash flow is positive and strong, having more than $4 billion in cash.
The Abu Dhabi government’s industrial investment arm reported earlier that it has made a 61 percent rise in its 2009 net profit, which grew to $307.7 million. GHC’s total assets grew 16 percent to $5 billion during the year.
Al-Nowais pointed out that the firm plans to grow its existing lines, to build new ones, and to acquire businesses that can compliment and expand its portfolio. He said that GHC is eyeing an engineering company and another firm in the steel sector for acquisitions.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more