Yusuf Bin Ahmed Kanoo Company (YBA Kanoo), one of the largest family-run multinational businesses in the Middle East, has acquired a 100 per cent stake in the Saudi-based Technical Contracting Company (TCC).
Based in Jubail Industrial City, TCC specialises in mechanical, electrical, instrumentation contracting and maintenance services. TCC is an approved vendor to Saudi Aramco, Saudi Basic Industries Corporation (Sabic), Saudi Electric Company, Saline Water Conversion Corporation, Maaden, the Royal Commission and other major conglomerates, said a statement.
Khalid Kanoo, deputy chairman of YBA Kanoo Group, said: “This acquisition is a strategic decision for the seamless integration of our oil and gas division to provide value-added services to our customers and improve the overall efficiency.”
Ali Abdulla Kanoo, country manager of the YBA Kanoo Group, added: “Full integration of the two businesses will be completed in the next few weeks and our clients will continue to receive the same high level of service provided by YBA Kanoo to all its customers.”
YBA Kanoo establishes solid, long-term distribution and joint venture partnerships with many prominent and well-reputed local and international companies through its more than 125 years’ history, the statement said.
The company utilises the latest technology to deploy smart and innovative operations across its functions. It also pursues and achieves business growth and expansion through the constant delivery of sustainable excellence, it added.