1 Manufacturing and Industry
looking at the manufacturing and industry sector in the Middle East
Yamama to take 20% stake in Yemeni Saudi
- Saudi Arabia's third biggest cement firm by sales, Yamama Cement, has said that it has agreed to take a 20% stake in the Yemeni Saudi Cement Company for $15m. Yemeni Saudi Cement owns a cement plant near the Yemeni city of Aden with a design capacity of 1.4 million tons per year and which is expected to start production next year. The deal must be approved by the assembly of shareholders in Yemeni Saudi Cement Co. for the legal proceedings and the agreement to be finalized.
- Yemen: 8 hours ago
Centamin to raise $25m in share placement
- Egyptian gold producer Centamin Egypt has said that it will raise a total of $25.5m from a private placement of 19 million shares, which will be placed with three large North American resource focused funds. Centamin plans to use the net proceeds for continued exploration activities and general corporate purposes.
- Egypt: 8 hours, 2 minutes ago
Borouge inks $1bn expansion deal
- Plastics solutions company Borouge has awarded gase and engineering company The Linde Group, a contract worth $1.075bn to build another 1.5 million tonnes per year ethane cracker at its production site in Ruwais, Abu Dhabi. The company is also expanding its polypropylene and polyethylene units, a low density polyethylene unit and a Butene unit, as well as related off-site utilities and marine facilities.
- United Arab Emirates: Saturday, July 04 - 2009 at 12:20
Jordan enterprise development inks Italy deal
- Jordan Enterprise Development Corporation (JEDCO) has signed an agreement with an Italian company to establish a garment design centre in the kingdom. Under the agreement, the Italian company will provide €3.5m to boost the competitiveness of small and medium size enterprises, as well as consultative and technical services to develop the work of Jordanian companies operating in this field.
- Jordan: Thursday, July 02 - 2009 at 11:26
Almarai to take over Hadco
- Saudi-based Almarai Co. has acquired Hail Agricultural Development Company (Hadco) for $253.2m, giving the latter's shareholders one new Almarai share and SR2.5 for five Hadco shares, in its bid to gain entry into the Saudi poultry business. Hadco has said its board would recommend to shareholders acceptance of the bid. The two firms have fixed a November 30 deadline for conclusion of the acquisition.
- Saudi Arabia: Thursday, July 02 - 2009 at 11:21
Rubber plant starts output in Saudi
- Armacell Zamil Middle East Company (AZMEC), a joint venture between Zamil Industrial Investment Company and Armacell International Holding of Germany, has said its new factory in Dammam, Saudi Arabia, has begun its commercial production of technical rubber insulation materials. The joint venture will market its production locally, as well as regionally through a network of sole distributors.
- Saudi Arabia: Wednesday, July 01 - 2009 at 11:14
RAK Ceramics conferred SuperBrand status
- Members of the SuperBrand council have voted RAK Ceramics, the $800m global conglomerate, as one of the UAE's SuperBrands for 2009. The company has been recognised for being one of the world's leading producers of a comprehensive line of premium-quality ceramic and sanitary ware products.
- United Arab Emirates: Tuesday, June 30 - 2009 at 11:16
Gozour buys 'Enjoy from Haykala
- Regional agrifood platform Gozour, established by Citadel Capital and a group of regional co-investors, has acquired the Nile Company for Food Industries (Enjoy), from Haykala, the Egyptian private equity firm founded by Commercial International Bank. Neither party disclosed the value of the transaction.
- Middle East: Tuesday, June 30 - 2009 at 11:08
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