Feb 07 2007 |
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Prince Alwaleed & Mr. Immelt, GE's Chairman & CEO Form a Committee to Explore All Possible Means of Cooperation Locally & Regionally
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office Chairman of General Electric Company (GE) and CEO, Mr. Jeffrey R. Immelt and an accompanying delegation which included, Mr. Nani Beccalli, President and CEO of GE Company, International, Mr. Nabil A. Habayeb, President and CEO of GE, Middle East and Africa and Mr. Ali Hakami General Manager of GE in Saudi Arabia. The meeting was attended by members of KHC which included, Mr. Talal Al Maiman Executive Director of Local Investments, Ms. Heba Fatani, Executive Manager Corporate Communications Department and Ms. Nahlah Alanbar Protocol Department Manager.Following the warm exchange of greetings, the meeting began with a discussion about economic issues. During the meeting GE's members highlighted the current performance and successful achievements of the company as GE is one of the first companies specializing in technological and electrical devices. Mr. Immelt referred to the GE company's rise in profits by 11% in 2005 and the company's growth in revenue which reached 8%. Also during the meeting, the GE company Chairman presented Prince Alwaleed with an opportunity to invest in the company to establish a business co-operation between KHC and GE company. Prince Alwaleed and Mr Immelt formed a committee to explore business ventures and all possible means of cooperation locally and regionally. The committee includes senior GE management, headed by Mr. Al Maiman from KHC to study and explore potential business ventures for implantation. Prince Alwaleed also commended the company on its successful performance and touched upon the good relationship between GE company and Citigroup, Through entities controlled by His Highness and His family, Prince Alwaleed first invested in Citibank in 1991 and is now the largest shareholder in Citigroup.
Furthermore, Mr. Immelt commended Prince Alwaleed on his efforts and successful endeavors that have positively influenced the economy and prepared it for an even brighter future.
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