As per the Saudi Press Agency (SPA), Saudi Arabian Industrial Investments Company, also known as Dussur, has acquired a stake in Italmatch Chemicals, a global manufacturer of specialty chemical additives based in Italy.
Dussur plans to invest SAR405 million ($108 million) in Italmatch as a capital increase to establish specialized factories in the Kingdom. Italmatch aims to reinforce its presence and existing partnership in the Middle East and Saudi Arabia through this transaction with Dussur, helping to diversify the regional economy, promote growth, and localize industrial value chains and capabilities to meet global demand.
Read more: Foreign, joint investments in Saudi industry surpass SAR542 bn
The announcement was made at a ceremony held in Riyadh attended by Saudi Energy Minister Prince Abdulaziz bin Salman, Investment Minister Khalid Al-Falih, and Minister of Industry and Mineral Resources Bandar Alkhorayef.
Furthermore, Dussur has teamed up with American company 3D Systems to launch a joint venture named the National Additive Manufacturing and Innovation Co. or NAMI. The partnership will offer solutions for 3D printing, engineering consultancy, and reverse engineering services, supporting the industrialization process currently underway in the Kingdom. This project serves several sectors, including petroleum, gas, automotive, aviation, and healthcare.
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