Honeywell forms Libya joint venture
Partners with Rida Technical Services to serve emerging Libyan market
Honeywell has formed a Libyan company, Honeywell Libya Technical Engineering Joint Stock Company, together with its joint venture partner Rida Technical Services.
The new company, to be known as Honeywell Libya JV, will provide process automation technology and services to local organisations, and is the first automation joint venture between a global company and a Libyan company.
Honeywell Libya JV has been registered with Libya’s Ministry of Economy and will be based in Tripoli.
“Honeywell Libya JV will help satisfy increasing demand within Libya for process automation that increases safety, reliability and efficiency, particularly among companies in the oil and gas and refining sectors,” said Edwin van den Maagdenberg, vice-president and general manager, Europe, Middle East & Africa, Honeywell Process Solutions EMEA.
“Our new joint venture with Rida Technical Services brings together the best of local and global know-how and expertise, and together we will invest in the local economy to transfer knowledge and build our skills base.
"We are pleased to be entering the Libyan market and intend to be present for years to come.”