Construction Products Holding honored as 'Saudi Arabia's Fastest Growing Company in 2009'

Mr. Walid Alakawi, Chief Executive Director of ITP Publishing House, said that the Award Committee of the Saudi Business Sector Awards 2009 selected CPC to win the highly coveted award in recognition of the great role it played in advancing economic development in Saudi Arabia.

The award was received by CPC Chief Operating Office, Engineer Walid Kamel Samaha, at a ceremony held at the Intercontinental Hotel in Riyadh, on Monday, May 25th in the presence of a gathering of top business executives and decision makers and the media.

Commenting on the award, Dr. Faysal Alaquil, Director of Business Development and official spokesperson for CPC expressed the company's pleasure in being selected for the prestigious award.

Alaquil said:

"This is a much appreciated recognition, coming from the Arabian Business magazine, which enjoys a strong presence in the business community here in Saudi Arabia. Such selection rightfully validates the business approach we adopted at the onset - to be the leading central supplier of manufacturing and construction related materials not only in Saudi Arabia but in the rest of the Arab world."

He added, "CPC has proven in such a relatively short period, that its business approach and expansion strategies, as well as investment decisions are effective and profitable, given the growth we have achieved in markets where we are currently operating. For instance, the company's financial capability was strong enough for horizontal expansion. However, the company's feasibility studies suggested that a more solid growth could be achieved with a vertical expansion, which it adopted and has resulted in the company growing effectively and strongly in selected markets. As in Saudi Arabia, the company works within its general growth strategy in Egypt, Syria, UAE, India, and soon in Algeria and Qatar."

In 2005, CPC started with seven companies, then with the implementation of its business plans, and the emergence of strong indications of success, the company expanded its activities to neighboring markets namely, Damascus (Syria), Cairo (Egypt), and Abu Dhabi, UAE. Currently, CPC owns 15 companies; including 14 factories specialized in construction materials and a transportation and logistics services company.

Dr. Alaquil added that the company has taken steps towards becoming an international company with a strategy that calls for the integration of various industrial services in one complex, an approach it successfully pioneered in Damascus, Cairo and Abu Dhabi.

CPC has identified a number of other key markets where it hopes to construct these industrial zones complexes in several Arab and international cities that exhibit strong demand for construction and manufacturing materials and related services.

By pursuing a global expansion plan, CPC aims to provide an environment conducive to the development of industry, to contribute to the advancement of industrial growth, and to participate in promoting the economy of the countries where it operates.

"In Saudi Arabia and in the rest of the world, our commitment remains the same - and that is to provide the highest level of services to manufacturers and to offer all facilities, such as providing raw materials and manpower, needed for the establishment and completion of their projects," Dr Alaquil stated.