Thursday, Dec 28, 2006
BEIRUT (Zawya Dow Jones)--Saudi Industrial Development Co. (2130.SA), or SIDC, said Wednesday that it signed a deal with The Juhainah for Trading, Manufacturing & Construction Co. to acquire a 50% stake in JTMCC's Arabian Spring Mattresses Factory unit.
In a statement to the Saudi Stock Exchange, Tadawul, SIDC said JTMCC would still own the remaining 50%.
SIDC didn't reveal the value of the deal.
Established in 1992, SIDC focuses on the Development and promotion of industrial projects in the west of the kingdom.
Arabian Spring was established in 1963 and is involved in the production of foam mattresses, spring mattresses and raw materials for spring mattresses, polyester and foam pillows, box springs and mattress pads.
-By Nadim Issa, Zawya Dow Jones, +961 1 985757, nadim@zawya.com
Copyright (c) 2006 ABQ Zawya Ltd. and Dow Jones & Company, Inc.
(END) Dow Jones Newswires
28-12-06 0453GMT
