Power management company Eaton and Abunayyan Holding have formed a joint venture (JV) to produce and service low- and medium-voltage switchgear in the Middle East.
The joint venture will do business as Eaton Arabia and will have locations in Dammam, Saudi Arabia, and Dubai, UAE.
“We are pleased to form this new joint venture with Abunayyan,” said Tim Darkes, president, Europe, Middle East and Africa Region, Corporate and Electrical Sector. “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 per cent of the new joint venture, and Abunayyan will consolidate joint venture results.
Abunayyan Holding, through its subsidiaries, engages in trading, manufacturing, servicing, and investing in water, oil, gas, and power markets in Saudi Arabia and the Gulf countries. Headquartered in Riyadh, Saudi Arabia, Abunayyan Holding employs approximately 4,500 people in subsidiaries in the Middle East and Africa.
Eaton provides sustainable solutions that help its customers effectively manage electrical, hydraulic, and mechanical power more safely, more efficiently, and more reliably. – TradeArabia News Service