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FINANCIAL NEWS
Saudi Tharawat, Azbil Corp form plant life cycle solutions JV
21 Jun 2012
(MENAFN) Saudi Tharawat Development and Japan’s Azbil Corporation partnered into a joint venture to provide plant life cycle solutions in Saudi Arabia, Trade Arabia reported.
The Azbil Saudi Arabia Limited JV will be established in Dammam, headed by Tetsuya Kurasawa, director of International Business Headquarters of Azbil Corporation.
The factory will manufacture and sell control valves, sell Azbil Corporation’s process automation and factory automation products/systems, and provide engineering and related services. Production is expected to start in October 2013.
Production will initially start with the assembly of large-bore control valves, and is expected to expand its business to offer total solutions covering the entire product life cycle.
The JV will sell products in the Saudi market and neighboring countries and has set a sales target of USD28 million for 2015.
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