Alessa signs US $200mn JV with Huntair

CES Group president Eric Roberts and Alessa Industries CEO Ahmed Saeed Al Omari

Saudi business Alessa Industries has announced a joint venture with an investment of over US $200 million with US firm Huntair.

Ahmed Saeed Al Omari, CEO of Alessa Industries explained that the new company’s goal will be to share industrial and market experience in addition to increasing the manufacturing lines of Alessa Industries.

Huntair manufactures air handling equipment. Under the agreement, Huntair will also train Saudi engineers in the US.

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“This is our first joint venture in Saudi Arabia, and it is with Huntair, our premier brand. We are very excited about the development taking place in the Gulf and so we are very excited to form this join venture,” said Eric Roberts, president of the CES Group which owns the Huntair brand.

Roberts said that CES comprised of over 30 companies and that the group was likely to look at creating other joint ventures to captialise on the Saudi market.

“[Alessa’s] direction to invest is based on market studies of the supply vs. demand rates, which clearly convey the boosting demand for the production of high quality air handing units,” said Alessa Industries CEO Ahmed Al Omari. He cited the growing population and increased numbers of projects as reason for the boosted demand.