SENAAT and Tubacex completed the acquisition of NOBU.

SENAAT, one of the largest industrial investment holding companies in the UAE, and Tubacex, a global leader in the manufacture of stainless steel and high-alloyed tubular products, completed the acquisition of NOBU, which provides repair and manufacturing services for high precision machining tubular components. Financial terms were not disclosed. "SENAAT’s new partnership with Tubacex is consistent with the company’s strategy of seeking to partner with global organisations to grow the UAE’s manufacturing base. As the country’s leading industrial holding company, we have a big responsibility to promote our chosen knowledge-based industrial sectors in line with Abu Dhabi Economic Vision 2030," Jamal Salem Al Dhaheri, SENAAT CEO.