RIYADH, Saudi Arabia, Sept. 29, 2015 -- Through its Home of InnovationTM growth initiative, SABIC has announced strategic marketing relationships with 40 global, regional and local manufacturing companies to promote the introduction of industry-leading technology into Saudi Arabia and the Middle East region.
“We look forward to collaborating with these companies to seek cost-effective, high-performance solutions that meet customer needs and increase demand for the design, manufacturing and purchase of new products in the Kingdom,” said Awadh Al-Maker, Executive Vice President, Technology and Innovation, SABIC.
“SABIC is committed to enabling downstream industry development in the Kingdom and region, and Home of Innovation™ provides a unique platform to engage the local market,” said Tymon Moore, Marketing Director, Middle East & Africa at SABIC. “We look forward to exploring long-term, mutual growth opportunities to help advance the local and regional economy.”
Through the initiative, SABIC engaged companies that demonstrated an interest in growing their business in the Kingdom and Middle East region. Additional qualities included a respected and recognized brand, a desire to engage with SABIC strategically, and innovative yet commercially-available systems or products.
Participating companies self-selected among three engagement levels – Leadership, Performance and Program – which afford varying degrees of regional exposure, business opportunities, industry connections and market insight.
The Leadership level currently includes Harwal Group of Sharjah, United Arab Emirates, New Products Industries Corp. (NEPRO) of Jeddah, Saudi Arabia, Philips Saudi Lighting of Riyadh, and Schneider Electric of France.
The Performance level currently includes 3M, ABB, AlWasail Industrial Company, Arabian Gulf Manufacturers (AGM), Badger Meter, Geberit, Honeywell, Kawakita Denki Kigyosha (KDK), Kohler, Miele, REHAU, Riyadh Cables, Saft, Samsung, and Watts Industries.
The Program level currently includes AlBarakah Company for Industry, Al Jazierah Home Appliances, Future Building Systems (FBS), Grundfos, Legrand, Leviton, Manik, Middle East Fiber Cable (MEFC), Panasonic Eco Solutions, Pentair, Plastbau Arabia, SAFID, Saudi Rubber Products Factory, Sermeta, Siemens, Somfy, SunPower, TE Connectivity, Thermaflex, Vimar and Wavin.
Representing the Middle East, Europe, Asia and Americas, participating companies illustrate the global, regional and local representation sought by the Home of Innovation™ initiative. Additional participation agreements are expected through September 2015.
In addition to engaging the local and regional market through industry events and targeted collaboration opportunities, SABIC is building a Home of Innovation™ facility in Riyadh to provide meaningful market awareness and insight, foster collaboration along the entire value chain and showcase advanced product and materials solutions. The facility is expected to be completed in the first half of next year.
About Home of Innovation
Home of Innovation™, a SABIC growth initiative, combines marketing, innovation and technology to create demand and promote downstream industry development. It offers a platform to showcase global innovation while identifying and developing new market opportunities and solutions. It inspires the regional business community by facilitating collaboration among industry-leading companies and showcasing what could be manufactured locally. It brings together the best minds and organizations interested in the future of the Middle East region and acts as a catalyst to transform ideas to industry. For more information, go to homeofinnovation.sabic.com.