Jotun showcases expertise at First Saudi Maritime Congress

Updated 07 December 2014

Jotun showcases expertise at First Saudi Maritime Congress

Jotun, which claims to be the Kingdom’s number one paint manufacturer and recognized worldwide as a major provider of coating solutions to the global marine fleet, participated in First Saudi Maritime Congress held on Nov. 25-26 in Dammam.
The event was inaugurated by minister of transport and chairman of Saudi Ports Authority who visited Jotun’s booth at the accompanying exhibition.
Jotun is best-known in the maritime industry for its hull performance solutions (HPS) and anti-fouling solutions, the answer to performance marine coating.
HPS, which was the key highlight of Jotun’s display at the event, measures hull performance along with guaranteed maximum speed loss and fuel efficiency.
Commenting, David Wright, managing director, Jotun Saudia, said: “As Jotun is recognized worldwide as a leading provider of coating solutions to the global marine fleet, the Maritime Exhibition held alongside the First Saudi Maritime Congress was an excellent opportunity to meet with current and potential clients and gave us a unique opportunity to showcase our products and explain how they can save costs and fuel while exerting a beneficial effect on the environment.”
The condition of a ship’s underwater hull surface has a substantial impact on its energy efficiency – both at the new build stage and for the vessel in operation. Around one-tenth of the world fleet’s fuel consumption can be attributed to deterioration in hull and propeller performance. This translates into around $30 billion in annual additional fuel costs and around 0.3 percent of all man-made carbon emissions.
Jotun’s hull performance solutions have been designed to make it easy to maximize hull performance and thereby reduce both fuel cost and greenhouse gas emissions. The solutions combine state-of-the-art antifouling and application technologies with reliable performance measurements and high performance guarantees.

Ma’aden acquisition supports Vision 2030

Updated 24 April 2019

Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.