CPC subsidiary buys Greek marble factory
Jeddah, December 6, 2009
Saudi-based Construction Products Holding Company (CPC), said its subsidiary Marble and Granite International Company Limited, has acquired a marble factory in Greece as part of its global expansion strategy.
Marble and Granite International Company has one of the largest and most advanced marble factories in the world, equipped with the latest machineries for cutting and formation of marble. This new factory is expected to contribute to increase sales of Greek marble in Saudi Arabia, said a company statement.
The company is planning to buy similar factories in Italy and China as it pursued its growth strategy, said Dr Faysal Ibrahim Alaquil, Business Development Director and Administrative Affairs and official spokesman of CPC Holding Company.
"In addition it has concessions for 25 granite quarries in Saudi Arabia, where the company is extracting and cutting Saudi granite for use in the local market as well as for export to the international market," he added.
"CPC recently allocated 275,000 sq m land within the company's industrial complex in Bahra to build a modern factory for marble and granite. The capacity of the new factory is expected to be 1.2 million sq m of marble and granite, and will employ about 500 workers,” he noted.
Dr Alaquil said CPC was committed to train young Saudi nationals to join the marble industry, which is one of the most developed local industries with increasing demand in view of the current construction boom in Saudi Arabia.-TradeArabia News Service