Sun Chemical Forms Joint Venture with Alliance Holding Company, LTD
PARSIPPANY, N.J., USA – March 28, 2017 – Sun Chemical has formed a joint venture with Alliance Holding Company LTD, which is the parent company of Ink Products Company, Ltd., a leading manufacturer of printing inks in the Arabian Peninsula.
The joint venture, which will operate under the name Sun Chemical Saudi Arabia LTD, combines two of the leading ink suppliers to the packaging and publication market in the region.
“This partnership reinforces Sun Chemical’s commitment to the growing package printing markets across the Middle East,” said Rudi Lenz, President and CEO of Sun Chemical. “The Ink Products Company is a market leader of printing inks in the region and our intention is to work together to build on the organization’s success by providing customers with high quality products, excellent service and innovative solutions.”
“We are excited by the opportunities that joining Sun Chemical’s global organization will bring to our customers in the region,” said Abdullah Al Hobayb, President of Alliance Holding Company LTD. “Being able to tap into Sun Chemical’s global resources will bring many great options to our customers and we’re pleased to join a company that shares our values of ‘working for you.’”
Sun Chemical will own the majority of the share in the new joint venture, and the transaction will be subject to closing conditions and regulatory approvals.
About Alliance Holding Company
AHC is a large Saudi investment conglomerate with a diversified portfolio of companies in the retail and wholesale trading of electrical products and building materials. AHC’s subsidiaries are engaged in the manufacturing and distribution of lighting products in Saudi Arabia (through a JV with Philips), Egypt and Malaysia, as well as the manufacturing of industrial paintings and ink products in the Kingdom.
AHC is a limited liability company registered in Riyadh. The company was advised by Legal Advisors in association with Baker & McKenzie Limited and regional M&A boutique Broadgate Advisers.
About Sun Chemical
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our Web site at sunchemical.com.