Sulzer Completes Joint Venture in Saudi Arabia
The announced joint venture with Saudi Pump Factory was completed on June 29, 2015. Sulzer signed the agreement for the acquisition of a 75% stake in Saudi Pump Factory in February 2014.
Sulzer Saudi Pump Company (Image: Sulzer)
This joint venture enables Sulzer to serve its Saudi Arabian and Gulf Cooperation Council customers with products to highest Sulzer standards from a local base.
Sulzer completed the joint venture with Saudi Pump Factory in Riyadh, Saudi Arabia, on June 29, 2015. It will trade under the new name of Sulzer Saudi Pump Company. Saudi Pump Factory, with a workforce of 170 employees, achieved sales of approximately CHF 23 million in 2014.
As oil and gas, power, and water are major sectors of Saudi Arabia’s fast growing economy, the joint venture is in line with Sulzer’s focus on these three key markets. Sulzer Saudi Pump Company will be the first complete manufacturing facility in Saudi Arabia for a global pump manufacturer of API pumps, serving one of the largest oil and gas markets worldwide.
The 25 000 m² facility in Riyadh produces all types of centrifugal pumps to API and ASME standards and will be part of Sulzer’s global manufacturing network. In addition, a pump test facility is available to test and confirm the highest product standard.
This joint venture with the well established Saudi partner will enable Sulzer to serve its Saudi Arabian and Gulf Cooperation Council customers with products to highest Sulzer standards from a local base. Sulzer will also offer a full range of aftermarket services for all Sulzer and Saudi Pump Factory products including repairs, spare parts, and retrofit solutions.