BRC buoyed by Sadeed’s support

October 2014

JEDDAH-based BRC Industrial (Saudia) has received an investment boost from a unit of Saudi investment management firm Swicorp that is dedicated to supporting the Saudi steel sector.

BRC Industrial, founded in 1974, makes a range of products such as welded wire mesh, cut and bend, reinforcement products, fences, concertina barbed tapes and gates. It has production facilities in Jeddah and is in the process of commissioning its new plant in Dammam which will see the company doubling its total production capacity.

Sadeed Investment, a Swicorp and Partners-owned investment vehicle, has acquired 30 per cent equity in the steel products maker and pledged to support its growth initiatives.

The steel products maker expects to cross revenues of SR1 billion ($266 million) this year, placing it in an elite group of firms in the kingdom that have achieved that milestone.

Sheikh Nasser Al Howaish, BRC’s chairman and representative of the Al Howaish family, commented: “We are delighted to welcome Sadeed Investment and its shareholders onboard as partners in our business as we believe the partnership will strengthen our organisation and reinforce BRC’s position of leadership in the domestic reinforcement and fencing markets.”

Swicorp’s chairman Kamel Lazaar said the company was thrilled to be joining forces with the BRC family. “Our profound interaction with the company’s management and outstanding shareholders have led us to appreciate the unique quality offering of the company and recognise that it is a fantastic platform for growth both in its current lines and on the back of quality opportunities that we seek to pursue hand in hand in support of the kingdom’s economy.”

Lazaar also said: “In the months ahead, Swicorp shall seek to make further direct investments with its partners in strongly grounded and high-potential companies such as BRC across the kingdom.”

BRC is an ISO 9001 company that started producing wire mesh in 1994, later graduating to a host of other products. The company is an approved supplier to Saudi Aramco and the Saudi National Guard as well as the Royal Commission for Jubail and Yanbu.

The company produces epoxy-coated rebars complying with ASTM A 775/A 775/M and has diameter sizes ranging between 8 mm and 40 mm. 

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