In September 2008, Dubai International Capital Emerging Markets acquired a 45 percent stake in UAE-based KEF Holdings (‘KEF’), the holding company of Emirates Techno Casting (‘ETC’) and JC Middle East (‘JCME’). KEF is an international award-winning manufacturer of precision steel castings and producer of valves to the oil and gas, mining, industrial, and chemical industries in the Middle East, Asia, Europe, and the United States

Starting with one steel foundry in 1997, ETC has enjoyed an impressive track record of expansion and growth, averaging 60% over the past 3 years. Currently, with three steel foundries in operation and exceptional engineering expertise, ETC boasts a production capacity of 36,000 tonnes per annum. The company serves over 70 clients including leading market players in the oil and gas industries such as Takreer, ENOC, Qatar Petroleum, KOC, PDO, Qatar Gas and Tyco. DIC’s investment in KEF Holdings will allow the group to further expand its operations throughout the Middle East and the Indian Subcontinent.