Stork Technical Services and Al-Rashed Group for Projects Sign Agreement to Expand their Services in Kuwait
UTRECHT, The Netherlands, February 6, 2013 /PRNewswire/ –
Stork Technical Services, a global provider of knowledge based asset integrity
services and Al-Rashed Group for Projects Holding Co. KSCC, a major participant in Oil &
Gas, Utilities, Infrastructure and Power Transmission & Distribution projects, are pleased
to announce that, on 5 February 2013, an agreement was signed to formalise their
relationship with Stork Technical Services taking a 49% shareholding in Al-Rashed
Cooperheat Trading & Contracting Co WLL. Post signing, the Company will be converted to a
KSCC Company and renamed Stork Technical Services Kuwait. The company will offer
specialised technical services with world class and high quality services to the oil &
gas, petrochemical and power sector.
Mr. Abdulaziz Al Rashed, Chairman & MD of Al-Rashed Group for Projects Holding stated:
“Stork Technical Services enjoys a worldwide reputation as a leading provider of highly
specialist services in a number of major industrial sectors. Al-Rashed Group for Projects
Holding is delighted and honored that Stork Technical Services has made this significant
commitment to participate in the future development of the State of Kuwait.
Doug Meikle CEO of Stork Technical Services declared that his company’s expansion in
the Middle East is one of the key strategies the company has been planning for the last
few years; “That is why we are very pleased to affirm our cooperation with such an
outstanding company as Al Rashed. We are honoured to work with Al Rashed and look forward
to continuing our long relationship.’
About Stork Technical Services
Stork Technical Services 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 14,300 employees across the UK & Africa,
Continental Europe, the Middle East, Asia Pacific and the Americas, we provide innovative
solutions and integrate thinking and doing in the areas of asset integrity, consultancy,
maintenance concepts, repair, renovation, new construction, relocations, subsea services
and other related complex projects.
About Al-Rashed
Al-Rashed Group for Projects Holding Company is a Kuwaiti Shareholding Company
(Closed) and was established under the commercial law of the State of Kuwait to
consolidate the individual family owned companies. It is privately owned by members of the
Al Rashed family, one of the Kuwait’s foremost business families tracing its business
activities back to 1911. As well as a number of wholly owned subsidiaries, joint venture
companies and strategic direct investments. Al-Rashed Group for Projects Holding has
collaborated with many world class companies in Kuwait over four decades, and is a major
participant in: Oil & Gas Projects, Utilities Projects, Power Transmission & Distribution,
Equipment Supply and Building Materials.
SOURCE Stork Technical Services
