Friday, October 27, 2023

Saudi company invests in Italian chemical manufacturer


Saudi Arabian Industrial Investments Co., also known as Dussur, has acquired a stake in Italmatch Chemical, a global specialty chemical additive manufacturer based in Italy. The announcement was made at a ceremony attended by Saudi Energy Minister Prince Abdulaziz bin Salman, Investment Minister Khalid Al-Falih, and Minister of Industry and Mineral Resources Bandar Alkhorayef. Dussur will invest SR405 million ($108 million) into Italmatch as a capital increase to set up specialized factories in the Kingdom. Through this transaction, Italmatch seeks to strengthen its presence and existing partnership in the Middle East and Saudi Arabia, contributing to regional economic diversification, growth, and localization of industrial value chains and capabilities to meet regional and global demand. In addition, Dussur launched a joint venture with 3D Systems, an American company, resulting in the creation of the National Additive Manufacturing and Innovation Co. or NAMI. The joint venture will provide solutions for 3D printing, engineering consultancy, and reverse engineering services to help boost the industrialization process currently underway in the Kingdom.

Latest stories