Nov. 25--ETA INVESTS $80M IN STEEL MILLS: Launching its first foray into steel manufacturing, ETA Ascon Star Group has announced that it has invested $80m in a new subsidiary, Star Steel International. The subsidiary is to set up steel rolling mills in the Hamriyah Free Zone in Sharjah to produce steel rebars and steel structural sections. The expected production of steel rebars is 360,000 tonnes per annum and steel structural sections is 240,000 TPA.

EMIRATES ALUMINIUM GETS GE DIVERTERS: The Emirates Aluminium (Emal) smelter currently under construction in Abu Dhabi has successfully received the first delivery of General Electric (GE) equipment at the Abu Dhabi Ports Company (ADPC) dock in Al Taweelah. The delivery of two 75-tonne combustion turbine exhaust gas diverters is the next step towards achieving hot metal production in 2010.

MANUFACTURING EXPO OPENS: The Middle East Manufacturing Exhibition (MEMEX) opens today at the Abu Dhabi National Exhibition Centre (ADNEC) and will run until November 25. The UAE is investing heavily in its industrial manufacturing sector, stimulated by the need to diversify away from the oil sector as hydrocarbon revenues continue to decline.

GCC CEMENT MAKERS Q3 PROFITS DOWN: The GCC cement sector saw a 15 percent decline in profits in the first three quarters of 2008. The profitability of the GCC cement sector listed companies was $1.46bn (Dhs5.35bn) in the third quarter 2008 compared with $1.72bn in the third quarter last year.

CPC INKS $90M DEAL WITH GUTMANN: Construction Products Holding Company (CPC) of Saudi Arabia and Herman Gutmann Werke AG of Germany have inked a deal for the set-up of a state-of-the-art aluminum extrusion facility, as well as for a modern aluminum composite panel production line in Jeddah. CPC will carry 65 percent stake in the investment, while Gutmann and parent company ALCO, take the remaining 35 percent.

-----

To see more of AME Info, go to http://www.ameinfo.com.

Copyright (c) 2008, AME Info, Abu Dhabi, United Arab Emirates

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

A service of YellowBrix, Inc.