Foulath, a major global steel investment vehicle and holding company, and the world’s first fully integrated steel producer from pelletizing till final product including stainless steel facility constructed at a single site, announced that its Vice Chairman and Managing Director Khalid Al-Qadeeri has been appointed chairman of the Arab Iron and Steel Union (AISU).
The appointment of Al-Qadeeri was made on the occasion of the 104th meeting of AISU’s board of directors recently held in Bahrain.
The AISU is the largest regional Arab conglomerate of iron and steel producers and users, comprising more than 80 companies from 16 Arab states.
Al-Qadeeri is an industry veteran with more than 30 years of experience in the regional and international steel industry.
As vice chairman and managing director of Foulath, a dedicated investor from mine to metals, he has played an important role in the development of the steel industry across the regional markets.
“We are delighted to announce the appointment of Khalid Al-Qadeeri as chairman of the Arab Iron and Steel Union for the forthcoming term, said Mohamed Laid Lachgar, secretary general, AISU. Al-Qadeeri’s contributions to the industry over the past three decades will bring considerable benefits to the AISU and our members as we work to meet the opportunities and challenges ahead of us.”
Foulath has under its umbrella, GIIC, SULB and USCO.
GIIC is one of four merchant pelletizing plants in the world, USCO is the region’s first manufacturer of stainless steel, and SULB is the region’s only producer of light, medium and heavy sections and beams.
Foulath’s shareholders are Gulf Investment Corporation (GIC), Kuwait, which is the company’s 50 percent shareholder and is owned equally by the six governments of the GCC; Qatar Steel Company, Qatar; Mohammed Abdulmohsin Al-Kharafi & Sons Company, Kuwait; National Industries Holding Group, Kuwait; and Kuwait Foundry Company, Kuwait.
