Alaa Industrial Equipment Factory (AFI) one of the leading seal manufacturers in Saudi Arabia, and Economos of Austria have announced they have entered into a strategic agreement for providing sealing solutions in the Kingdom.

"Under the new agreement, AFI will have the status of 'main partner' in the Kingdom, where exclusivity in technology and know-how is shared," said AFI marketing manager Jolly Joseph.

"AFI's pervasive presence in the Kingdom and in the Middle East through its networks of branches gives Economos the right partner in Saudi Arabia to access Markets.

"Economos, is one of the leading players in the sealing industry in world. AFI's ability to serve and penetrate every significant market segments in the Kingdom, its years of experience in sealing solutions and a workforce that is highly skilled and well motivated have been the key reason behind this strategic alliance," added Joseph.

The agreement was formalised in Dammam in late August.

Joseph said the collaborative approach by the two companies would add value to their growing clientele in the Kingdom.

The official said AFI had already entrenched itself in the marketplace by serving key customers in the Kingdom.

"With this synergistic partnership, where AFI acquires the most modern machines that are faster and technologically advanced, it is sure to increase its competitive advantage to give a value proposition to their customers," said Joseph.

Referring to published statistics, which said an annual industry growth of over 6.1 percent was expected for the world gaskets and seals markets, he said the alliance with Economos was significantly important for the sealing industry in Saudi Arabia.