Our flagship in investments

KWT STEEL – A SUCCESS STORY

United Steel Industrial Company was founded in August 1998 as a joint venture of ASCOTEC Holding GmbH (49%) and Kuwaiti partners.

The rolling mill, was established and within only 16 months of being operational, was producing an initial capacity of 400.000 MT for local Kuwaiti consumption.

Today, United Steel Industrial Company has developed into an advanced complex, consisting of 2 rolling mills and a steel making plant. The company has a significant local market share of more than 80% and in addition to that is exporting its high quality products to global markets.

Due to its industrial importance the company is honored by the brand and name "KWT STEEL".

752 employees, an annual production of ... tons of high quality rebars, a revenue of 500 Mio EUR p.a. and a strong share capital base of 90 Mio EUR, are the result of adequate management and sound development.  

UNITED STEEL INDUSTRIAL COMPANY (UNISTEEL)

This company was established in 1996 in Ahwaz and functions as a local steel service-centre for the distribution of various products. 40% of its shares belong to ASCOTEC Holding GmbH.