Riyadh, Saudi Arabia, The Saudi Arabian Industrial Investments Company "Dussur" proudly announced its acquisition of a sizeable share in the Italian company Italmatch Chemicals under the auspicious patronage of HRH Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, and in the presence of HE the Minister of Industry and Mineral Resources, Mr. Bandar Ibrahim Alkhorayef.
The strategic purchase by Dussur is in line with its continuous dedication to localizing cutting-edge technologies in the Kingdom. As a result of the deal, Italmatch Chemicals, a company that leads the industry in revolutionary chemicals, would see its capital increase by 100 million euros. With the use of these finances, specialized factories will be built and developed all over Saudi Arabia, enhancing the country's infrastructure and local economy.
Italmatch Chemicals, which is best recognized for producing water treatment options, advanced performance-enhancing additives, and other materials for the oil, gas, and plastics industries, will bring a wide range of experience to Saudi Arabia. Additionally, the variety of goods they offer for the personal care chemicals market will be crucial in developing and diversifying local production capacities.
The National Additive Manufacturing and Innovation Company (NAMI), a partnership between Dussur and the US-based business 3D Systems, was launched at the same ceremony. NAMI is a pioneering innovation hub and service provider in the Kingdom. Additionally, this relationship was first disclosed at the end of the March 2022 project launch ceremony for Dussur.
In addition to consulting, engineering design, reverse engineering, and post-processing services, NAMI will offer engineering solutions for 3D printing and on-demand printing of complicated parts. For polymer and metal-based applications, it will make use of the most innovative 3D Systems hardware, software, and materials. The business will serve important industries like oil and gas, automotive, aerospace, and health care. By localizing cutting-edge technology, boosting supply chain resilience, and cultivating exceptional capabilities for jobs of the future, it will support the Kingdom's industrial journey. Several Memorandums of Understanding (MOUs) and agreements for strategic cooperation with important industry partners were also signed at the event. Three agreements focused on the provision of necessary materials and technological cooperation to increase regional chemical manufacturing capacity were inked by Italmatch Chemicals. NAMI simultaneously signed three joint memoranda of understanding (MOUs) for the creation of a digital spare parts inventory, the advancement of 3D medical printing, and the localization of printed spare parts manufacturing.
The CEO of Dussur, Dr. Raed AlRayes, expressed confidence in the company's investment portfolio and its capacity to make a substantial contribution to the region's supply chain security at this time. He once again highlighted Dussur's will to make the most of the Kingdom's natural resources and to promote the dissemination and localization of technology and expertise. According to him, "These strategic initiatives align with our vision of fostering private sector investments and enabling complementary investments in production, processing, and distribution activities."
