Saudi Readymix in 'Top 100 list' for 2nd year
Riyadh, February 7, 2010
Saudi Readymix was named one of 100 fastest growing companies in the Kingdom at the Global Competitive Forum in Riyadh held recently. The company also made it to the 'Saudi Fast Growth 100' list for the second consective year.
Saudi Readymix Concrete Company has been credited for achieving a remarkable 255.99 per cent growth rate from 2004 to 2008, said a top official.
'It was a dramatic improvement from the 166.11 per cent growth rate (2003 to 2007) the company registered in the 2009 edition of Saudi Fast Growth 100, a key factor that has enabled Saudi Readymix to make the list for the second consecutive year and improve its ranking from 29th in 2009 to the 20th spot in 2010 among the companies that have been in operation for more than 5 years,' said Khalid Baghdadi, managing director of Saudi Readymix.
Baghdadi said it was a great distinction to be recognised as one of the fastest growing companies in Saudi Arabia and a greater honour to be the only ready-mixed concrete company to make it to the list.
The list celebrates the success of the 100 fastest growing companies in Saudi, which have collectively created jobs and spurred innovation and growth, while serving as a leading indicator of the Kingdom's economic competitiveness.
'This important achievement will provide the momentum for us to further build our network and develop the range of our concrete solutions as we introduce new concrete-related product lines in the market,' he observed.
According to him, Saudi Readymix has embarked on a major expansion program over the last few years, boosting its manpower resources and opening several new factories and installing concrete batching plants in strategic locations all over Saudi Arabia.
The company has also expanded its fleet of state-of-the-art mixer trucks and mobile concrete pumps, while opening new quarries and expanding existing sites that have significantly enhanced Saudi Readymix's aggregate production capacity, he added.
Fadi Mujahed, Saudi Readymix’s Marketing and Business Development director, said the company was gradually expanding into new markets outside Saudi Arabia as part of its long-term growth program.
'The large-scale development activities across Saudi Arabia have opened new and exciting business opportunities in the ready-mixed industry, helping sustain our growth initiatives across the country. As we continue to grow and enhance our presence in the Saudi market, we are also looking to expand our presence outside Saudi Arabia to serve our customer base regionwise,' he added.-TradeArabia News Service