National Industrialization Company (TASNEE)
KHC investments begin: 1995
Based: Riyadh, Saudi Arabia
Awards & Medals
2011 - Environmental Performance Award 2011 granted by Administration of Protecting and Monitoring Environment in the Royal Commission of Al Jubail and Yanbu.
2010 - Social Responsibility Award by ITP Publishing Group and Arabian Business Magazine
2009 - ITP Publishing Group has awarded engineer Mubarak bin Abdullah Al-Khafrah, TASNEE Chairman, as the best Chairman in the industrial sector in Saudi Arabia
2009 - Dr. Moayyad Issa Al-Qurtas, vice chairman and chief executive of Tasnee was honored with the award of the best CEO in the industrial sector by CEO Magazine Middle East
Kingdom Holding Company has a substantial shareholding in TASNEE, a major Saudi petrochemical firm and the country’s second-largest industrial firm, producing chemicals, plastics, and industrial services.
For KHC, TASNEE represents a special situation investment. The company acquired an interest in TASNEE in 1995, and following this investment a new Board of Directors and Chief Executive were appointed. This followed a comprehensive restructuring of the business, which saw the disposal of non-core assets and a new series of cost-containment policies. This period also saw TASNEE initiate in excess of 50 key investments and mergers, which significantly increased the scale of the business and its share price.
TASNEE’s long-term strategy is to develop a major global petrochemical company based on additional projects and high value acquisitions. KHC enjoys a very close relationship with TASNEE’s management and expects to be offered additional opportunities for co-investment in the company’s future.
The National Industrialization Company (TASNEE) is a major Saudi Arabian Petrochemical company with interests in a wide range of other concerns such as chemicals, plastics, engineering and other industrial services. The company is the second largest industrial company in Saudi Arabia and the second largest producer of titanium oxide in the world.
TASNEE was established in 1985 as the first joint-stock industrial company fully owned by the private sector, to promote or participate in a range of high value industrial arenas. In 2006, TASNEE acquired a 51% holding in petrochemical holdings specialist, National Petrochemical Industrialization Company (NPIC) which has since seen the company’s focus lean more towards the petrochemical industry to capitalize on Saudi Arabia’s extensive oil reserves.
The secret of the Company’s strength is its wide experience and skilled labor, state–of-the art technologies and products and innovative solutions that add value to its products and services locally and offshore.