Eaton company and Abunayyan Holding announced the formation of a jv to produce and service LV & MV switchgear in the Middle East . The jv will do business as Eaton Arabia and will have locations in Dammam city, Saudi Arabia, and Dubai, U A E.
Tim Darkes, president, Europe, Middle East and Africa Region, Corporate and Electrical Sector said:“We are pleased to form this new joint venture with Abunayyan,” “Abunayyan’s strong presence in the Kingdom of Saudi Arabia combined with Eaton’s global scale and access to the broader Middle East will strengthen our offerings to customers in the region.”
Abunayyan and Eaton will each own 50% of the new jv, and Abunayyan will consolidate jv results.
Abunayyan Holding, through its subsidiaries, engages in trading, manufacturing, servicing, and investing in water, oil, gas, and power markets in the Kingdom of Saudi Arabia and the Gulf countries. Headquartered in Riyadh, Saudi Arabia, Abunayyan Holding employs approximately 4,500 people in subsidiaries in the Kingdom of Saudi Arabia, the Middle East and Africa.
Source: Facilities Management website