Tebodin establishes Saudi Arabian joint venture company
Bunnik, The Netherlands, 24 June 2009 - Tebodin Consultants & Engineers - operating company of Royal BAM Group nv - and the Saudi Arabian company APIC LLC have signed a joint venture agreement to set up a consultancy and engineering company named Tebodin APIC LLC in Jeddah in the Kingdom of Saudi Arabia. The joint venture is based on 50% shares for both companies.
Tebodin APIC LLC will focus on the local oil, gas and chemical market in Saudi Arabia and will enforce the organization of Tebodin Middle East in the Gulf region. Tebodin Middle East was established in 1974 in Abu Dhabi and is now present in Bahrain, Oman, Qatar and United Arab Emirates with more than 800 employees active in oil & gas, water & infrastructure, industrial and environmental sectors.
APIC LLC is an affiliate of ZMS Group established in 1964 in Jeddah, owned by the Sudairi family. ZSM comprises of seven autonomous operating companies employing over 600 people in the Kingdom of Saudi Arabia. By teaming up with Tebodin, APIC will get access to the promising local oil, gas and chemical market.
Tebodin B.V. is based in The Hague (the Netherlands) and is an independent, multidisciplinary consultancy and engineering firm with a turnover of € 232 million (2008). Tebodin offers her clients worldwide the knowledge and experience of over 3,000 experts in industry, health & nutrition, oil & gas, (petrol) chemicals, infrastructure, real estate, and energy & environment. The company has a network of around fifty offices in West, Central and Eastern Europe, the Middle East and Asia.
Further information:
- Press: A.C. Pronk, +31 (0)30 659 86 21, ac.pronk@bamgroep.nl
- Analysts: P.R.E. Snippe, +31 (0)30 659 87 07, p.snippe@bamgroep.nl