Sun Chemical has formed a joint venture with Alliance Holding Company LTD, which is the parent company of Ink Products Company, Ltd., a manufacturer of printing inks in Saudi Arabia.The joint venture, which will operate under the name Sun Chemical Saudi Arabia LTD, combines two of the leading ink suppliers to the packaging and publication market in the region.
“This partnership reinforces Sun Chemical’s commitment to the growing package printing markets across the Middle East,” said Rudi Lenz, president and CEO of Sun Chemical. “The Ink Products Company is a market leader of printing inks in the region and our intention is to work together to build on the organization’s success by providing customers with high quality products, excellent service and innovative solutions.”
“We are excited by the opportunities that joining Sun Chemical’s global organization will bring to our customers in the region,” said Abdullah Al Hobayb, president of Alliance Holding Company LTD. “Being able to tap into Sun Chemical’s global resources will bring many great options to our customers and we’re pleased to join a company that shares our values of ‘working for you.”
Sun Chemical will own the majority of the share in the new joint venture, and the transaction will be subject to closing conditions and regulatory approvals.