Joint venture marries product and service expertise with market knowledge to establish foothold in growing market.
Edgen Murray Boosts Saudi Market Presence with a New Office Through Joint Venture with Shoaibi Group
Edgen Murray, a leading global distributor of speciality steel products and logistics solutions for the energy sector, has further expanded its global footprint with the establishment of a new office in Al Khobar, KSA to support its existing joint venture with leading Saudi Arabia-based oil, gas and petrochemicals company, Shoaibi Group.
The joint venture – operating as ‘Edgen Murray Saudi Company’ was established in 2008 and opened direct access to the world’s 8th largest energy infrastructure market, valued at an estimated US$176,674 million1. The new office will stock and sell Edgen Murray products including Pressure Vessel Plates, Seamless and Welded API 5LX 65 steel pipe, Chrome-moly, Stainless Steel and Nickel Alloy Flanges and Fittings.
Craig Kiefer, Chief Operating Officer, Edgen Murray says, “The key to success in this region is developing a strong team of people who understand the local market. Our partnership with the Shoaibi Group is shaped by long-term goals that include developing and strengthening key customer relationships.”
As well as increasing Edgen Murray’s regional presence and local market knowledge, the joint venture tracks project opportunities with specific emphasis on the energy, refinery, water and power markets. This enables Edgen Murray to consolidate and further develop the market experience that it has built up over several years and improve the service provided to Saudi customers.
The initial product focus will be on high-end and high-grade pressure vessel grades used in extreme environments. To support this strategy, Edgen Murray Saudi Company has a preferential agreement to distribute premium Hydrogen Induced Cracking (HIC) and non-HIC tested Carbon Steel Plates and Heads and Roll bonded Clad Plates and Heads in the Saudi Arabian market.
Khalid Al Shoaibi, Group Director of Shoaibi Group, said the joint venture strengthened the Group’s ability to service the growing energy infrastructure market. “We have recently concluded a couple of transactions which are important milestones for the joint venture. Edgen Murray is a clear leader in their sector and we are excited to be working closely with them through this joint venture. It is already gaining traction.”
About Edgen Murray
Edgen Murray is a global distributor of high performance steel products manufactured for use in specialised applications throughout the energy infrastructure markets and individual industrial segments. Supplying both new construction projects and maintenance, repair and operational requirements, Edgen Murray offers a broad range of materials, technical expertise, and customized solutions through more than 30 worldwide locations spanning the Americas, Europe, Middle East, and Asia Pacific. For more information, visit www.edgenmurray.com.