Saudi-based Al Taiseer Group Talco Industrial Company has announced that it has extended by six months a non-binding MoU to acquire a 60% stake in Dammam-based Eastern Aluminum Extrusion Factory.

This extension will run from August 24 to February 23, 2027, allowing additional time to complete due diligence procedures, said Talco in its filing to the Saudi Exchange.

Founded in 1976, Talco is a pioneer in the manufacture of aluminum-associated products in Saudi Arabia and the Gulf region and boasts a production capacity of up to 60,000 metric tonnes per annum for the global market.

The Saudi group had signed the non-binding MoU in November last year to acquire 60% of the target company's share capital. The agreement was previously extended in March 2026.

The company said further procedures related to the proposed transaction were still ongoing.

Headquartered in Riyadh, Talco's core business segments are aluminium extrusion, thermoset powder coating including advanced polyester and epoxy metal coatings as well as manufacture of accessories such as rubber gaskets and weatherstrips for sealing systems.-TradeArabia News Service