Sun Chemical has finalised the formation of a joint venture with Alliance Holding Company LTD (parent company of Ink Products Company, Ltd.) and will now operate under the name Sun Chemical Saudi Arabia LTD.
A leading manufacturer of printing inks in the Arabian Peninsula, Sun Chemical Saudi Arabia LTD will continue to be a leading ink supplier to the packaging and publication market in the region. The joint venture reinforces Sun Chemical's commitment to the growing packaging printing markets across the Middle East.
Sun Chemical previously announced that it will own the majority share in the new joint venture. Terms of the deal were not disclosed.
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 www.sunchemical.com
Lynn Campbell, Sun Chemical Matt Parry, Eric Mower + Associates
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Source: Sun Chemical