Home » “QIND Moves Ahead Successfully with Recent Purchase of Al Shola Gas”

“QIND Moves Ahead Successfully with Recent Purchase of Al Shola Gas”

by Dubaiforum

Quality Industrial Corp. (OTC PINK:QIND), a Manufacturer and Service Provider for the Industrial, Oil & Gas, and Utility sectors, recently made a significant acquisition in the United Arab Emirates. The company acquired a 51% interest in Al Shola Al Modea Gas Distribution LLC (Al Shola Gas) and is now focusing on integrating and expanding this new acquisition.

The Stock Purchase Agreement between QIND and the shareholders of Al Shola Gas was finalized on March 27, 2024, with QIND gaining control of two out of the three board seats of Al Shola Gas, including the Chairman of the Board seat. The agreement includes an option for QIND to acquire the remaining 49% of the company within the next two years.

This acquisition marks a strategic move by QIND to strengthen its presence in the gas distribution sector and expand its operations in the United Arab Emirates. By acquiring a majority stake in Al Shola Gas, QIND aims to leverage the company’s expertise and resources to enhance its service offerings and drive growth in the region.

The completion of this acquisition signifies a new chapter for Quality Industrial Corp. as it continues to pursue opportunities for expansion and diversification in the global market.

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