ALUPCO controls 40% of local aluminum market, eyes Saudi listing in 2026: CEO

Aluminum Products Co.’s (ALUPCO) CEO, Khaled Abdel-Moneim

Aluminum Products Co.’s (ALUPCO) CEO, Khaled Abdel-Moneim, said the company's market share in the Saudi aluminum sector reached 40% by the end of 2024, with plans for further growth despite price fluctuations and intense competition.

Speaking to Argaam on the sidelines of the PIF Private Sector Forum, Abdel-Moneim said ALUPCO also commands a 20% market share in the wood sector.

The company operates across multiple international markets, including the Gulf, MENA, India, Germany, the US, and Canada, covering 26 countries. It also aims to expand into new markets.

In the aluminum segment, ALUPCO manufactures window and door systems, while its wood division produces around 120,000 doors and kitchens. The company has been involved in major projects, including the Red Sea development, and collaborates with investors and contractors in Saudi Arabia and beyond, such as Egypt’s New Administrative Capital.

The CEO noted that the sector has seen a strong rebound, prompting ALUPCO to ramp up investments and production capacity to meet growing demand driven by large-scale projects in Saudi Arabia.

He highlighted stiff competition, particularly from low-cost Chinese imports and products from Gulf countries such as Bahrain and the UAE.

Regarding the US tariffs on aluminum imports, the CEO anticipates that these tariffs will negatively impact aluminum prices in the US market. However, they could put all exporters on equal footing.

He added that Saudi Arabia’s strong trade ties with the US could give its aluminum exports a competitive edge over other markets.

Regarding ALUPCO’s listing plans, Abdel-Moneim confirmed that the company is actively working toward a public offering in the second half of 2026, leveraging the Saudi market’s rapid growth as one of the region’s largest.

Founded in 1975, ALUPCO operates in aluminum, wood, steel, and raw materials, serving sectors such as construction, energy, and water, as well as Saudi Aramco. The company is primarily owned by Olayan Financing Co., with varying stakes from other investors depending on the sector.