DOCSLIB.ORG

Mumtalakat Acquires an Equity Stake in Leading Industrial Gas Player Gulf Cryo

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mumtalakat Acquires an Equity Stake in Leading Industrial Gas Player Gulf Cryo Mumtalakat Mumtalakat acquires an equity stake in leading industrial gas player Gulf Cryo This investment is a reflection of Mumtalakat’s continued efforts to grow and diversify its holdings across various sectors and regions Bahrain Mumtalakat Holding Company (“Mumtalakat”), the investment arm of the Kingdom of Bahrain, announces its successful acquisition of a minority equity stake in Gulf Cryo (the “Company”), the leading regional manufacturer, distributor and service provider of industrial gases based in Kuwait. Mumtalakat will join Gulf Cryo’s shareholder group, which includes Mr. Amer Huneidi, other members of the Huneidi family and Investcorp. deNovo Corporate Advisors (“deNovo”) acted as the financial advisor in this transaction to the majority shareholders in the Company. Founded in 1953 as the Kuwait Oxygen and Acetylene Company, Gulf Cryo produces and supplies industrial, medical and specialty gases to a wide range of industries in the MENA region. Gulf Cryo was the first gas manufacturer in Kuwait to provide industrial gases such as oxygen and nitrogen to the booming local petroleum industry. During the 1970’s, the Company expanded into the UAE, with the formation of the Arabian Industrial Gases Company in Sharjah. Today, Gulf Cryo oversees a network of over thirty production and distribution sites operating in twelve countries, including the GCC countries, Jordan, Syria, Egypt, Iraq, Turkey and Austria, and is supported by a team of 1000 professionals. Gulf Cryo’s capabilities include a considerable pipeline distribution network, the largest merchant air separation production capacity in the region as well as an extensive network of facilities manufacturing and distributing oxygen, nitrogen, acetylene, carbon dioxide, dry ice, hydrogen, nitrous oxide, food-grade, specialty and medical gases. Commenting on this successful acquisition, Mr. Mahmood Hashim Al-Kooheji, Chief Executive Officer of Mumtalakat said: “We are delighted to have concluded this transaction, which is aligned with our strategy to invest in leading international companies with strong growth potential looking for an active, long-term investor. We look forward to working closely with Gulf Cryo’s skilled management team to support its future growth and expansion initiatives. By leveraging Mumtalakat’s regional network and industrial sector expertise, we aim to support the Company’s market penetration as well as its plans to establish a presence in the Kingdom of Bahrain. This acquisition marks our fourth investment in the industrial sector in recent months and is a reflection of our continued efforts to grow and diversify our business portfolio. These investments will help further diversify the Kingdom’s industrial base and drive local economic development.” Mr. Amer Al Huneidi, Chairman of Gulf Cryo said: “We are delighted to welcome Mumtalakat, a highly respected investment company, to Gulf Cryo’s shareholding structure. With its considerable funding expertise and influential connections in Bahrain and the wider GCC, we are confident that Mumtalakat will help support Gulf Cryo’s investment plans in the coming years. We have been through a period of significant growth, concentrating on growing our portfolio of business services across wider territories. Our aim is to achieve sustainable investment returns for our stakeholders and we look forward to working with the Mumtalakat team to further strengthen our market position.” © 2017 Bahrain Mumtalakat Holding Company. All rights reserved Powered by TCPDF (www.tcpdf.org).
Load more

Recommended publications
  • Sustainability Report 2014
    Sustainability Report 2014 Making the Impossible Possible EQUATE Groundbreaking June 15, 1995 EQUATE Inauguration November 12, 1997 Greater EQUATE Inauguration February 23, 2010 Greater EQUATE Groundbreaking March 1, 2005 Contents 04 Letter from the President & CEO 20 Our Approach to Sustainability 06 About this Report 62 GRI G4 Content Index 08 About EQUATE 68 Glossary of Abbreviations 14 EQUATE in Numbers 70 Publications and References 18 Awards 28 How we Conduct our 32 Quality in all Our 40 Our Environmental business Operations Stewardship 46 Our People 52 Our Community 58 Our Impact on the Economies where We Operate 4 EQUATE Sustainability Report 2014 Letter from the President & CEO Since its inception in 1995, EQUATE during 2013. We demonstrate the Petrochemical Company has set its impact our activities leave on the com- Indeed, EQUATE is a vision on becoming a global leader in munities where we operate, as we manufacturing best-in-class products. take responsibility for all our actions in great place to work Furthermore, as Kuwait’s first inter- those communities. because of what we national petrochemical joint venture, EQUATE has today become an organi- Every year, we make a substantial effort do and how we do it. zation that reflects and demonstrates in crafting a high performingEQUATE innovative Sustainability Report 2014 5 I would like to congrat- a framework of sustainable excellence. business culture and we are now ready to look to the future with renewed ulate everyone in the Ensuring that sustainability is core to energy and drive. Sustainability our principles and integrated within reporting ensures consolidating best company on another our corporate and strategic objectives practices and global standards as com- year of achievements demonstrate our commitment toward petitive advantages for the benefit of the society and the environment.
    [Show full text]
  • U Capital Morning Brief 6 August 2018
    U Capital Morning Brief 6 August 2018 Market Indices Current Close Change D/D YTD Price to Earnings Price to Book Div Yield Index Point % % (x) (x) % U Capital Oman 20 Index 857.53 9.82 1.16% -11.98% - - - U Capital GCC 50 Index 1,347.34 -1.66 -0.12% 17.71% - - - U Capital MENA 200 Index 1,088.31 -1.79 -0.16% 9.37% - - - MSCI GCC Countries Index 553.14 -1.25 -0.23% 15.29% 14.01 1.80 3.8% Muscat Securities Market 4,370.44 43.77 1.01% -14.29% 8.85 0.87 6.2% Saudi Stock Exchange 8,242.71 -10.83 -0.13% 14.07% 17.77 1.84 3.3% Kuwait Stock Exchange 5,242.27 36.20 0.70% NA 15.43 1.32 3.7% Qatar Exchange 9,896.74 -84.48 -0.85% 16.11% 14.95 1.50 4.4% Bahrain Stock Exchange 1,353.74 4.57 0.34% 1.65% 8.52 0.86 6.0% Dubai Financial Market 2,977.89 3.95 0.13% -11.64% 9.45 1.11 5.7% Abu Dhabi Exchange 4,806.30 -5.12 -0.11% 9.27% 12.56 1.42 5.0% Beirut Stock Exchange 1,035.32 -3.29 -0.32% -9.86% 5.48 0.65 9.4% Palestine Stock Exchange 544.90 3.50 0.65% -5.17% 12.96 1.18 4.5% Tunis Se Index 8,379.68 2.26 0.03% 33.40% 21.89 2.98 1.7% EGX 30 Index 15,737.05 -69.33 -0.44% 4.78% 10.63 2.42 2.6% Amman General Index 2,009.07 -19.23 -0.95% -5.53% 14.62 1.01 4.5% World Markets Country Value D/D YTD Currency Cross Rates Europe % % Currency USD/1 Unit Units/1 USD FTSE 100 UK 7,659.1 1.10% -0.4% Australian Dollar (AUD) 0.739 1.353 DAX Germany 12,615.8 0.55% -2.3% British Pound (GBP) 1.299 0.770 CAC 40 France 5,479.0 0.33% 3.1% Canadian Dollar (CAD) 0.769 1.301 United States Chinese Renminbi (CNH) 0.146 6.841 DJIA USA 25,462.6 0.54% 3.0% Egyptian Pound (EGP) 0.056
    [Show full text]
  • E-Learning Most Socially Active Professionals
    The Middle East’s Most Socially Active Oil & Energy Professionals – September 2020 Position Company Name LinkedIN URL Location Size No. Employees on LinkedIn No. Employees Shared (Last 30 Days) % Shared (Last 30 Days) 1 TGT Oilfield Services https://www.linkedin.com/company/1360433 United Arab Emirates201-500 203 38 18.72% 2 GASCO, National Gas & Industrialization Companyhttps://www.linkedin.com/company/1224763 Saudi Arabia 1001-5000 290 46 15.86% 3 Brothers Gas https://www.linkedin.com/company/1999276 United Arab Emirates501-1000 214 33 15.42% 4 Egyptian Refining Company (ERC) https://www.linkedin.com/company/230871 Egypt 1001-5000 276 39 14.13% 5 Ministry of Energy https://www.linkedin.com/company/6265907 Saudi Arabia 501-1000 388 54 13.92% 6 TAQA (Industrialization & Energy Services Company)https://www.linkedin.com/company/540261 Saudi Arabia 1001-5000 256 35 13.67% 7 OQ https://www.linkedin.com/company/37254914 Oman 5001-10000 1,704 221 12.97% 8 PETRONASH https://www.linkedin.com/company/1420398 United Arab Emirates501-1000 263 34 12.93% 9 GULF SPECIALIZED WORKS https://www.linkedin.com/company/11232571 Saudi Arabia 1001-5000 294 38 12.93% 10 King Abdullah City for Atomic and Renewable Energyhttps://www.linkedin.com/company/2142272 K●A●CARE Saudi Arabia 201-500 298 35 11.74% 11 PGESCo https://www.linkedin.com/company/84026 Egypt 501-1000 643 69 10.73% 12 OES Asset Integrity Management https://www.linkedin.com/company/1492243 United Arab Emirates201-500 375 39 10.40% 13 GP Global Group https://www.linkedin.com/company/1285781 United
    [Show full text]
  • Building Momentum for CCS in the Gulf Region and Around the Globe
    Building Momentum for CCS in the Gulf Region and Around the Globe PRESENTERS: GULOREN TURAN, GCCSI, GENERAL MANAGER – ADVOCACY ROBIN MILLS, CEO, QAMAR ENERGY TIDJANI NIASS, SAUDI ARAMCO, TECHNOLOGY STRATEGY AND PLANNING AAESHA AL KEEBALI, ADNOC, RESERVOIR ENGINEERING MODERATED BY: JEFF ERIKSON, GCCSI, GENERAL MANAGER – CLIENT ENGAGEMENT THE GLOBAL STATUS OF CCS 2 Before we start • We will collect questions during the presentation. • Moderator will pose questions to the presenters after the presentation. • Please submit your questions through Q&A on Zoom control panel: 3 Agenda • Welcome/Introduction – Jeff Erikson, GCCSI • The Global Status of CCS – Guloren Turan, GCCSI • CCS in the Gulf Region • Regional Overview – Robin Mills, Qamar Energy • Saudi Arabia – Tidjani Niass, Saudi Aramco • United Arab Emirates – Aaesha Al Keebali, ADNOC • Questions and Answers – Panel discussion • Wrap-up – Jeff Erikson, GCCSI 4 THE GLOBAL STATUS OF CCS 5 THE GLOBAL STATUS OF CCS • In 2020, the pipeline of operational and under development CCS facilities continued to grow third year in a row. • Number of countries, cities and companies committing to net-zero climate targets increased in 2020 despite the adversities faced, accelerating CCS development. • Policy and funding support for CCS continued its momentum, most notably in the US, UK, Norway, EU, Japan and Australia. • Three factors are enhancing the business case for CCS around the world: • Enhanced tax credit in the US • Hubs and clusters • Hydrogen, as the fuel of the future • Despite the progress in 2020, to achieve net-zero emissions, CCS capacity must increase more than a hundredfold by 2050. GLOBAL CCS FACILITIES UPDATE MATURING INDUSTRY RESULTS IN UPDATED CLASSIFICATION SYSTEM • New system introduced : classifies CCS facilities as ‘Commercial’ or ‘Pilot and Demonstration’.
    [Show full text]
  • MENA Private Equity
    Global Research - MENA MENA Private Equity • Private equity in MENA not immune to the financial crisis. • Fundraising activities almost stagnant during 2009. • Gap between funds raised and investments increased. Massive slowdown in private equity investments and fundraising In 2009, the total number Private Equity transactions in the MENA region has decreased significantly by almost 71% to 15 entry transactions compared to 51 for the same period last year. On the fundraising front, the year saw only two funds successfully raised. Cash not invested have reached to 52% in the MENA region The growth in fundraising activities that the region has witnessed from 2005 till 2008 resulted in US$20bn raised to date out of which approximately US$11bn is still not invested representing about 52% of dry powder in the region Cumulative Fundraising and Investments 25,000 19,629 20,029 20,000 15,000 (US$ mn) 10,000 8,807 8,964 7,413 6,361 4,768 5,000 2,835 1,084 1,395 - 2005 2006 2007 2008 2009 Funds raised Investments MENA Private Equity MENA Source: GVCA and Zawya Private Equity Monitor MENA region has the highest concentration of Sovereign Wealth Funds (SWF’s) As per the SWF institute statistic, total size of SWF’s assets under management worldwide is currently standing at US$3.811trn compared to US$3.05trn a year ago. The MENA region SWF’s amounts to US$ 1.66trn representing 44% of the total SWF assets worldwide. Among the 10 largest SWF in the world there are three GCC countries which are UAE, Saudi Arabia, and Kuwait.
    [Show full text]
  • Photo Presentation
    CIdiCompany Introduction INDIAN COMPRESSORS LTD. Celebrating 75 years in 2018 Ver: 01/20 INTRODUCTION • We are 75 years old • Main Products • Gas Compressors • Cryogenic pumps • Factories located in India, Italy and China • Worldwide after-sales service • Oxygen safety is our focus! 2 OUR COMPANY Indian Compressors Ltd. Head office and factory - New Delhi, India Ventos Compressors - CET Engineering srl Factory in Italy Xuzhou Auro Compressors Co. Ltd. FtFactory i iChin China 3 KEY PRODUCTS Industrial Gas Compressors Cryogenic Pumps Filling Stations CNG Compressors 4 OUR STRENGTH We solve difficult problems for customers! 5 GLOBAL CUSTOMERS 6 GLOBAL CUSTOMERS 7 CRYOGENIC PUMPS • Manufactured with Swiss Technology since 1988! CENTRIFUGAL PUMPS RECIPROCATING PUMPS • LOX -LIN -LAR -CO2 -N2O -LNG -Ethylene 8 CLEAN ROOM MANUFACTURING AREA 9 OXYGEN SAFETY! • Cleaninggggp and Degreasing done as per AIGA 012/04 standard • Max. Hydrocarbon and Particle levels: As per latest Linde standards • Blue Gold degreaser used, with ultrasonic cleaning • BAM certified materials used: Piston and rod seals , Grease, Teflon tape, Gaskets, Anti-Seize paste • ASME certified Safety valves • TUV Nord certified Weldingg( (WPS and PQR) • Black liggpht inspection of all p arts • Full traceabilityyp record of each component • Higgyhly trained and skilled technicians 10 RECIPROCATING CRYOGENIC PUMPS • Max. Flow 20 litres/min - 330 bar Discharge Pressure 11 RECIPROCATING CRYOGENIC PUMPS 12 FULLY AUTOMATIC CRYOGENIC PUMPS • Fully automatic - Unmanned operation • PLC controlled
    [Show full text]
  • KWN IOMA IHC Intro BC15-Q1 Air Liqide.Pdf
    FIRST QUARTER 2015 2015 Annual Meeting Preview 3 IOMA Member News 5 ISSUE 1 | www.iomaweb.org Related Association News 4 Trading Post 7 Harmonization in Focus What are the immediate and future The Benefits of Harmonization benefits of this project for the industrial he safety of employees, end users, and the general public has always gases industry? Tbeen foremost among the business objectives of the industrial and After this accident, we realized that there was no medical gases industry. The International Harmonization Council (IHC) safety and technology document for high-pres - was established in 1998 to share safety practices and reduce sure pumps of this type. So we decided to pre - discrepancies in safety standards and operating practices through the production of pare an EIGA document on this subject and then publications that are identical in purpose and scope and eliminate any conflicting harmonize it. technical or operational requirements. Developed by joint working groups of experts from the How long did it take to publish? participating associations, these publications present consensus-based industry practices for the Who was involved? manufacture, transportation, storage, transfilling and disposal of industrial and medical Our first discussions on the document began in gases. Though harmonization is a resource-intense process, the benefits to members of participating 2008 at EIGA. It was initially prepared by the associations are numerous. I EIGA WG-6 group. Once the document was com - pleted at the EIGA level, it was adapted into a harmonized document and published as such in Interview with Mr. Hervé Barthélémy, Chairman of May, 2014.
    [Show full text]
  • The Industrial Gas Sector in the Middle East a Regional Overview
    The Industrial Gas Sector in the Middle East a regional overview Marcus Jakt 4th Middle East Industrial Gases Conference Dubai, UAE December 3-5, 2013 gasworld Business Intelligence Providing added insight and in-depth analysis: • Country and regional profiles • Financial performance • BI Online High value business information for the industry at an affordable cost Global Gases Market Valued at $74.1 Billion in 2012 Africa Middle East South Pacific 2% 3% Rim 6% North America 27% North Pacific Rim 24% South America 6% Indian sub- continent 2% Eastern Europe Western Europe 5% 25% Middle East Gases Market Valued at $2 Billion in 2012 Iraq 2% Others Saudi Arabia Oman 15% 29% 3% Qatar 5% Kuwait 5% Iran UAE 12% Turkey 15% 14% Middle East Gases Market Valued at $2 Billion in 2012 Delvar Afzar Gulf Cryo 5% Linde 5% Habas 17% 5% Air Liquide 7% NIGC Praxair 20% 4% Air Products 3% Abdullah Messer 1% Hashim Others 3% 30% Middle East Gases Market Valued at $2 Billion in 2012 OSP 11% Bulk 6% Packaged 11% Other 1% Captive 71% Note: if Captive Market added to total revenues, market size increases to ~$7 Billion in 2012 Middle East Revenue evolution & forecast 2000-2020 Gas Market Growth and Forecast, 2000-2020 4500 4000 3500 3000 Macro Economic 2500 Forecast $m 2000 Gas Intensity Forecast 1500 1000 500 0 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 between +6.1% p.a (low) to +9.3% p.a. (high) in 2012-2020 timeframe Turkey Gases Market Valued at $294 million in 2012 Air Liquide Others 4% 7% Messer Habas 10% 36% Linde 43% Turkey Gas Market Growth and Forecast by end-use sector 2000-2020 600.0 500.0 Others Glass 400.0 Healthcare Pulp & Paper 300.0 Electronics $m Food Gen Manufacturing 200.0 Metallurgy Refining & Energy 100.0 Chemicals - 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 between +6.7% p.a (low) to +8.8% p.a.
    [Show full text]
  • NETL's CARBONSTORAGE NEWSLETTER:ANNUAL INDEX
    Carbon Storage Newsletter Annual Index Highlights (Sep 2015 – Sep 2016) NETL’s CARBON STORAGE NEWSLETTER: ANNUAL INDEX SEPTEMBER 2015 – SEPTEMBER 2016 This is a compilation of the National Energy Technology Laboratory’s (NETL) monthly Carbon Storage Newsletters published over the last 13 months. The newsletter is produced by NETL to provide information on activities and publications related to carbon storage. It covers domestic, international, public sector, and private sector news. This Annual Index covers newsletters issued from September 2015 to September 2016. Outdated Information (e.g., conference dates, paper submittals, etc.) has been removed. For more information on the U.S. Department of Energy’s (DOE) Carbon Storage Program, click here. HIGHLIGHTS ............................................................................................................................................ 1 CARBON STORAGE IN THE NEWS ........................................................................................................... 6 SCIENCE ................................................................................................................................................. 15 POLICY .................................................................................................................................................. 23 GEOLOGY .............................................................................................................................................. 33 TECHNOLOGY ......................................................................................................................................
    [Show full text]
  • Sustainability Report 2013
    Sustainability Report 2013 Making a positive difference www.equate.com The year 2013 witnessed a new era for EQUATE’s sustainability reporting journey. With two reports completed, we look for new horizons of reporting to continue building on EQUATE’s current approach to transform our sustainability practices into a more concise, long-term and strategic program. We, at EQUATE, believe that in a world facing a number of critical challenges, success depends upon being able to continuously grow. EQUATE also understands that it has to implement more measures and initiatives to live up to sustainable growth in the future. In our journey towards development, we assign much importance for balancing our three sustainable pillars: the environment, the economy and the society. Our steps toward this ambition matter to us, our stakeholders, our people and the world. Find inside What Sustainability CEO’s Letter EQUATE in Numbers About EQUATE Means to EQUATE? 04 07 10 15 01 02 03 04 Managing EQUATE’s Economic Reporting Philosophy How EQUATE Connects? Environmental Footprint Development 17 18 20 28 05 06 07 08 Society and the Local Glossary of Terms EQUATE’s People Community GRI Index & Abbreviations 32 36 40 48 09 10 11 12 4 CEO’s LetterEQUATE Sustainability Report 2013 Since its inception in 1995, EQUATE during 2013. We demonstrate the Petrochemical Company has set its impact our activities leave on the com- Indeed, EQUATE is a vision on becoming a global leader in munities where we operate, as we manufacturing best-in-class products. take responsibility for all our actions in great place to work Furthermore, as Kuwait’s first inter- those communities.
    [Show full text]
  • Business Review Fiscal Year 2013 for the Period July 1, 2012 to June 30, 2013
    Business Review Fiscal Year 2013 For the period July 1, 2012 to June 30, 2013 Fiscal Year business highlights Business environment Investments and realization activity Portfolio commentary Fundraising Discussion of results Corporate investments portfolio review Numbers may not add up due to rounding Fiscal Year business highlights Net income • Net income grew strongly by 56% to $104.9 million. This reflects a notable increase in investment and placement activity driven by sustained investor demand for attractive alternative investments which was supported by a steady flow of profitable realizations. • Total fee income grew by 40% year-on-year to $329.5 million, which included a very strong increase in deal activity fees, which more than doubled to $193.4 million, representing more than half of total fee income. • Asset-based income of $32.2 million includes a rebound in hedge fund returns, benefitting from a more positive macroeconomic environment to deliver unlevered returns of 5.1%. • Overall, gross operating income for FY13 was up 35% to $361.8 million. • Operating expenses increased by 25% to $188.0 million due to increased staff compensation in line with higher net income. Total expenses, as a percentage of net revenues, fell to 64% in FY13 from 69% in FY12. • The Board of Directors has proposed a dividend of $15.0 per ordinary share along with the full dividend of 12% on the preference shares. Net income ($m) Gross operating income ($m) Dividend per ordinary share ($) 362 104.9 267 15.0 67.4 56% 35% 100% 7.5 FY12 FY13 FY12 FY13 FY12 FY13 Asset-based income Fee income Balance sheet • Total assets as at June 30, 2013 were $2.5 billion, leverage continued to decline and total liquidity, in excess of $1.1 billion, fully covers all medium and long term debt maturing over the next five years.
    [Show full text]
  • Gasworld Oct 16 2013 MENA's Largest Industrial Gas Conference Is Nearly Upon Us!
    gasworld Oct 16 2013 MENA's largest Industrial Gas Conference is Nearly Upon Us! There are only a few weeks to go before specialist media company gasworld returns to the United Arab Emirates to hold its forth industrial gas conference in the Middle East. An event like no other, gasworld will be bringing the industrial gas community together to discuss debate and converse about current and future industry needs, and it's not too late to be a part of it. This year the conference welcomes a plethora of guest speakers from across the region including Bernardo Sestini, President of SIAD healthcare S.p.A, Joannes Mongardini, Head of Economics at Qatar National Bank, Ralf Gubler, Senior Principal Analyst IHS at Chemical and Alessandro Gorla Managing Director Linde Gas Middle East. This year's event promises to be gasworld's largest Industrial Gas Conference and Exhibition to date, with over 40 exhibitors and 250 delegates attending. Since hosting its very first conference in Dubai back in 2007, gasworld has travelled around the world providing a significant opportunity for those within the gas industry to join together. The conference, entitled 'Driving Success in a Changing Market', will be covering a range of exciting topics related to the industrial gas business in the Middle East and North Africa, ranging from; Drivers for Growth, Current and Future Gas Markets, Gas Supply Options and Operations Impacting on Profitability, all guided by carefully selected industrial speakers. With an audience comprising senior managers from the world's largest industrial gas companies, and the major end-users of industrial gases, the event offers a complete package of networking opportunities, an exhibition, two days of presentations, and the chance to stay at the Jumeirah Beach Hotel.
    [Show full text]