Pentair, Saudi firm plan JV
Los Angeles, September 18, 2013
Pentair Ltd, a global water, fluid, thermal management and equipment protection company, has signed a memorandum of understanding (MoU) with Saudi Arabia's Ali Abdullah Al Tamimi Company to form a joint venture.
The venture will establish a local presence to manufacture, sell and service Pentair's products in Saudi Arabia.
The MoU was announced at the US-Saudi Business Opportunities Forum in Los Angeles, California.
"Pentair is excited by the opportunity to work with Ali Abdullah Al Tamimi Company in the largest energy market in the Middle East region," said Ramesh Nuggihalli, vice president and managing director for Pentair in the Middle East.
"We are committed to local manufacturing in this region, which not only creates jobs and economic benefits, but offers greater efficiencies for customers and opportunities for collaboration."
"We are pleased to be further extending our relationships with Pentair," said Sulaiman Alrumaih, vice president of power and industrial for the Ali Abdullah Al Tamimi Company. "Our combined strength will help serve the growing needs of the energy and water sectors. Pentair's proven operating processes are an excellent foundation to accelerate a strong manufacturing base in the kingdom."
Pentair has more than 1,200 employees in the Middle East, including in manufacturing and office facilities. - TradeArabia News Service