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Mon, 09 Nov 2009 | 13:12 GMT

National Industrialization Company   (2060.SSE)
Also known as: NIC, Tasnee
Last Trade
26.70 SAR
+ 0.75%
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Apr 14, 2009
 
Joint Stock
 
 
Invests in industrial projects in the fields of chemicals, petrochemicals, engineering, paper and plastics, and industrial services.
1985 (September)
45 Company, 964 Group (As of Apr 13, 2009)
 
2060 
Ordinary 
SAR 
 
 Key Officers
Mubarak Bin Abdullah Al Khafrah
Chairman
Dr Moayyed Bin Issa Al Qurtas 
Vice Chairman and Managing Director and Chief Executive Officer
 
 Contact Details
Address:
New Akaria Building,Tower II
7th Floor
Sitteen Street
Malaz
P.O. Box 26707
Riyadh 11496
Saudi Arabia
 
+966 1-476-7166
 
+966 1-477-0898
 
info@tasnee.com

 
  Latest Headline
Saudi's Tasnee Sells Olefins From Jubail Petchem JV - Exec - Zawya Dow Jones News
 
  Business Overview
National Industrialization Company (Tasnee) was established in June 1985 as the first Saudi joint stock company wholly owned by the private sector. Since then, Tasnee expanded its portfolio to include more than 25 subsidiaries and investments in 2006. Through its subsidiaries, Tasnee operations include chemicals, plastics, engineering, industrial and others.

In mid-2006, Tasnee and Tasnee Petrochemicals approved the merger and decided to increase the Paid-up capital to SAR2.3 billion (USD620 million). After the first merger took place, Tasnee merged two of its subsidiaries, namely the Arabian Axles Foundries and Spare Parts Company and the National Metal Manufacturing and Casting Company (Maadaniah)National Metal Manufacturing and Casting Company (Maadaniah)Loading..., to strengthen their industrial position and achieve better returns for its shareholders.

In 2001, Tasnee established its first petrochemical complex, Saudi Polyolefins CompanySaudi Polyolefins CompanyLoading... as a joint venture with Basell, the world's largest producer of Polypropylene and Europe's largest producer of Polyethylene. Saudi Polyolefins CompanySaudi Polyolefins CompanyLoading... was established in Al Jubail Industrial city for the production of Propylene and Polypropylene and started production in 2004 with a capacity to produce 450,000 t/y of Propylene and 450,000 t/y of Polypropylene.

Tasnee established its second complex in 2006, Tasnee and Sahara Olefins CompanyTasnee and Sahara Olefins CompanyLoading..., as a joint venture with Sahara Petrochemical CompanySahara Petrochemical CompanyLoading..., for the production of Propylene, Ethylene and Polyethylene. Tasnee and Sahara Olefins CompanyTasnee and Sahara Olefins CompanyLoading... will produce through Saudi Ethylene and Polyethylene CompanySaudi Ethylene and Polyethylene CompanyLoading... with capacity to produce 1mn t/y of Ethylene, 285,000 t/y of Propylene, 800,000 t/y of high and low density Polyethylene. Production will start in the second half of 2008 at an estimated cost of the plant SAR9.5 billion.

With the Kingdom of Saudi Arabia now part of the World Trade Organization, Tasnee plans to expand and market its products internationally.
 
 
  Industry Benchmarks  Yr 2006 
 
  Current Owned Petrochemical Capacity (t/y) 712,100 
View latest report on Petrochemicals 
 
 Major Shareholders
This Requires Subscription
 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
National Gulf Company for Petrochemicals Technology Saudi Arabia 100.00%
National International Company for Industrial Development Saudi Arabia 100.00%
National Tasnee Company for Petrochemicals Marketing Saudi Arabia 100.00%
National Tasnee for Industrial Investments Saudi Arabia 100.00%
Rowad National Plastic Company Saudi Arabia 100.00%
Saudi International Makaseb for Trading and Industry Saudi Arabia 100.00%
Tasnee Petrochemicals Company Saudi Arabia 100.00%
National Batteries Company Saudi Arabia 80.00%
Saudi Polyolefins Company Saudi Arabia 75.00%
National Lead Smelting Company Saudi Arabia 74.90%
The National Titanium Dioxide Company Saudi Arabia 66.00%
National Operation and Industrial Services Company Saudi Arabia 61.66%
Tasnee and Sahara Olefins Company Saudi Arabia 60.45%
National Inspection and Technical Testing Company Saudi Arabia 57.94%
TUV - Middle East Saudi Arabia 57.94%
National Packing Products Company Saudi Arabia 42.60%
National Metal Manufacturing and Casting Company Saudi Arabia 35.40%
National Environmental Preservation Company Saudi Arabia 32.33%
Saudi Acrylic Monomer Company Saudi Arabia 20.00%
Saudi British Development and Investment Company Saudi Arabia -
Investments
 
Name  Country  Holding
Industrialization and Energy Services Company Saudi Arabia 5.62%
Alsalam Aircraft Company Saudi Arabia 5.00%
Madina Industrial Investment Company Saudi Arabia 5.00%
Turkish Saudi Investment Holding Company Turkey 1.25%
Arabian Industrial Fibers Company Saudi Arabia 0.87%
 
 
  Representatives
Auditors
 
Deloitte Bakr Abulkhair and Company
 
Banks
Saudi Investment Bank
Banque Saudi Fransi
Samba Financial Group
 
 Summary Financials
This Requires Subscription
 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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