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FINANCIAL NEWS
Sadeed Investment acquires 30 percent stake in BRC
08 Sep 2014
(MENAFN), Sadeed Investment Limited announced the acquisition of a 30 percent equity participation in BRC Industrial (Saudia) Limited, Saudi Gazette reported.
BRC is one of the leading long steel products manufacturing and processing companies in Saudi Arabia, its revenues are predicted to exceed USD 266.59 million this year due to strong investment in infrastructure in the Kingdom.
The company is also expected to double its capacity through the ongoing commissioning of its new Dammam plant and the establishing of a new facility in Jeddah, and is confirming itself as ideal partner for concrete reinforcement needs and fencing solutions across Saudi Arabia.
“We are delighted to welcome Sadeed onboard as partners in our business, as we believe this partnership will strengthen our organization and reinforce BRC’s position of leadership in the domestic reinforcement and fencing markets,” BRC’s Chairman said
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