Stork Technical Services and Saudi Industrial Services Co. Sign Agreement to Expand Their Services in Middle Eastern Region
UTRECHT, the Netherlands and JEDDAH, Saudi Arabia, August 13, 2012 /PRNewswire/ –
Stork Technical Services and Saudi Industrial Services Co. (SISCO) are pleased to
announce that on Monday 25th June 2012, an agreement to establish a limited liability
company has been signed. The new company will offer specialized technical services with
world class and high quality services to the oil & gas, petrochemical, energy and water
The agreement was made to establish a company under the name of Stork Technical
Services Saudi Arabia Limited, as a foreign investment with a share capital of SR 25
million, where Stork’s share is 55%, and SISCO is 45%. The company will be based in Jubail
and will offer complete solutions bundled to serve high value apparatus and asset
Mr. Mohammed Mudarres, CEO of SISCO, stated that SISCO has been evaluating various
opportunities in this area as part of its strategy to expand and diversify its business,
and found these services to be in great demand in Saudi Arabia. The agreement with Stork
Technical Services was confirmed because of Stork’s excellent reputation and high quality
performance in the area of providing specialized services.
Mr. Douglas Meikle , CEO of Stork Technical Services, also declared that his company’s
expansion in the Middle East and in particular Saudi Arabia is one of the key strategies
the company has been planning for the last few years. Stork through establishing its
presence in the area will endeavor to transfer technical know-how by training Saudi youths
in these specialized areas. Mr. Meikle also announced that Stork considers the Saudi
market as one of the most promising markets in the region in terms of projects and
expansions in the oil & gas, petrochemical and energy sectors.
The company will strive to recruit and train young Saudis in various technical,
vocational and administrational areas, as it is considered one of the key strategies to
sustain its business and growth in Saudi Arabia.
About Stork Technical Services:
Stork Technical Services, a wholly owned subsidiary of Stork B.V., is a global
provider of knowledge-based Asset Integrity Management services for the Oil & Gas, Power
and Chemical sectors. From concept through to execution – Stork Technical Services aims to
help reduce risk, assure safety and improve environmental performance for our customers.
With 14,500 employees worldwide, we provide innovative solutions and integrate thinking
and doing in the areas of asset integrity, consultancy, maintenance concepts, repair,
renovation, new construction, relocations, services and other related complex projects.
Saudi Industrial Services Company (SISCO) was established by group of well-known Saudi
Businessmen in 1988 as a listed company in the Saudi Stock Exchange Market, with the aim
to develop and invest in the national economy within the industrial estates. Today SISCO
is considered to be one of the kingdom prominent companies, undertaken large scale capital
investment in desalination plants, ports & free zones, industrial estate development, IT
and other key projects.
SOURCE Stork Technical Services