Sun Chemical – Formation of Saudi Arabian joint venture completed
USA • The company has finalized the formation of a joint venture with Alliance Holding Company LTD (parent company of Ink Products Company, Ltd.) and will now operate under the name Sun Chemical Saudi Arabia LTD.
As a manufacturer of printing inks in the Arabian Peninsula, Sun Chemical Saudi Arabia LTD will continue to be a leading ink supplier to the packaging and publication market in the region. Sun Chemical previously announced that it will own the majority share in the new joint venture. Terms of the deal were not disclosed.
Alliance Holding Company LTD is a large Saudi investment conglomerate with a diversified portfolio of companies in the retail and wholesale trading of electrical products and building materials. Its subsidiaries are engaged in the manufacturing and distribution of lighting products in Saudi Arabia (through a JV with Philips), Egypt and Malaysia, as well as the manufacturing of industrial paintings and ink products in the Kingdom.