Forsan Ceramics applauds the excellent opportunities for growth in Saudi - forecasts 10% market share by 2017
(Thomson Reuters ONE) -
Dr. Khater Massaad, CEO of Al Forsan Global Industrial Complex ('Forsan
Ceramics') in the Kingdom of Saudi Arabia ('Saudi') today applauded the
advantages presented to the fast growing company by the strong growth
opportunities in the Kingdom.
Forsan Ceramics, based in the King Abdullah Economic City on the Red Sea coast
of Saudi, was only set up in 2011, and is the result of a $186m investment with
local Saudi partners.
The population of 30 million in the Kingdom is believed to be growing every year
by 3-4% with 500,000 new apartments needing to be built annually to match demand
as well as the numerous public and municipal projects, such as schools and
hospitals, required to meet the needs of the growing population.
Forsan Ceramics has forecast it will have a 10% market share in the fast growing
ceramics and porcelain market in Saudi by the beginning of 2017 as the
combination of its highly experienced team, investment in the latest machinery
and the underlying population growth all combine to create a world beating team.
Dr Khater Massaad commented: "Saudi is a young and dynamic country with high
standards and a genuine interest in diversifying away from its well-known
dependence on oil revenues. But few acknowledge it also has excellent raw
materials, plentiful supplies of the natural gas required to fire our state of
the art kilns and a steady supply of good labour.
"When we started the business in 2011 we knew that Saudi would present us with a
large and growing market, but we are quietly pleased by the way it is so far
turning out. As long as the population continues to grow, there will be an
increasing need for the quality ceramic tiles and sanitary ware we produce."
ENDS
For further information
Adrian Flook - aflook(at)ctfcomms.com
Notes to editors
Dr Khater Massaad
Dr Khater Massaad, the Chief Executive of Forsan Ceramics, is a Swiss national
with a Ph.D. in Geophysics and M.Sc. in Mathematics. His business pedigree
includes setting up RAK Ceramics in the early 1990s which over the next 20 years
he turned into the world's largest ceramics producer.
Forsan Ceramics
Forsan Ceramics is a brand of the umbrella company Star Industrial Holdings. The
Al Forsan Global Industrial Complex is based in the King Abdullah Economic City
and enjoys a competitive edge over many domestic and international ceramic and
porcelain manufacturers. Having been established as recently as 2011, it has
been able to invest in the latest machinery and deploy the best techniques and
technology in the industry along with the highest quality raw materials.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Star Industrial Holding Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.09.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 493743
Anzahl Zeichen: 3353
contact information:
Town:
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Kategorie:
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