Takween Advanced Industries Saudi Closed Joint Stock Company (Saudi Arabia)

Takween Advanced Industries Saudi Closed Joint Stock Company, located in Al Khobar, was incorporated on 05/05/1414H (corresponding to 21/10/1993G) as Al Othman Factory for Plastic Products. It started as a branch of an establishment owned by Mr. Mohamed Abdullah Zaid Al Othman, with a capital of SAR1,000,000. On 06/02/1422H (corresponding to 30/04/2001G), it was converted into a limited Liability Company with a share capital of SAR32,000,000 and changed its name to Al Othman Plastic Products Company. On 28/12/1431H (corresponding to 04/12/2010G), the company was converted from a Limited Liability Company to a Closed Joint Stock Company named Takween Advanced Industries. Its capital at that time was SAR97,539,000. The company operates through its headquarters in Al Khobar and its factory in Al-Ahsa, registered under commercial registration no. (2250021688). It also acquired a factory in Al-Ayoun City, Al Ahsa, after winning the tender to purchase it from Al Ahsa Development Company. The purchase included the whole factory and its facilities, including the staff residential building. The company signed the Contract of Sale on 09/10/1435H (corresponding to 05/08/2014G). Takween Advanced Industries operates through its subsidiaries, Ultrapak and SAAF. It also acquired Savola Packaging Systems Company, which owns two subsidiaries, Al Sharq in Saudi Arabia and New Marina in Egypt. Al Sharq owns three factories in the Kingdom, while New Marina owns two factories in Egypt.