The Arab Iron & Steel Union (AISU) has appointed Mr Khalid Al-Qadeeri, MD of steel investment company, Foulath its chairman for 2012.
The Arab Iron and Steel Union is the largest regional Arab conglomerate of Iron & Steel producers and users, comprising more than 80 companies from 16 Arab states.
Mr. 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.
Established in June 2008 in the Kingdom of Bahrain, Foulath is an investment vehicle and 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 presently 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% shareholder and is owned equally by the six governments of the GCC. They also include Qatar Steel Company, Qatar, Mohammed Abdulmohsin Al-Kharafi & Sons Company, Kuwait, National Industries Holding Group, Kuwait and Kuwait Foundry Company, Kuwait.