Al Taiseer Group Talco Industrial Company has announced that it has secured the go-ahead from the company's board of directors for the acquisition of a 60% stake in the Eastern Aluminum Extrusion Factory. located in the Saudi city of Dammam.  

Headquartered in Riyadh, Al Taiseer Group Talco is a leading name in aluminium extrusion and finishing in the Kingdom of Saudi Arabia and beyond.

The Group presents integrated solutions in a wide range of aluminum-associated products as aluminum profiles with surface treatment, metal coating manufacturing, and rubber gasket and weatherstrip manufacturing. 

The group manufactures a broad spectrum of products that cater to various sectors in building materials, architectural, industrial, and others. 

Talco Industrial Company had reached a preliminary agreement to begin due diligence through its advisers and to complete the necessary studies and procedures ahead of signing a share purchase agreement with the owners of Eastern Aluminum, said the company in its filing to Saudi bourse Tadawul.

The transaction remains subject to confirmation of feasibility studies and the determination of a fair value by a financial adviser to be appointed, it added.-TradeArabia News Service