RIYADH, 25 January 2006 — Saudi Research & Marketing Group (SRMG) yesterday announced the purchase for SR125 million of Hala Press, one of the largest and most advanced in Riyadh. The acquisition is part of the SRMG strategy to expand its investments within and outside Saudi Arabia.
Prince Faisal ibn Salman, chairman of SRMG, said the new press would meet the company’s growing requirements.
“Hala will also expand the group’s investment capabilities with its expanding printing market in the Kingdom and other parts of the Middle East,” the SRMG chief said, adding that the purchase of Hala would help provide a variety of advanced printing services.
SRMG has already established its leading position in the printing and publishing world with the advanced facilities of Al-Madina Printing & Publishing Company, an affiliate of the group, and new presses set up in association with Emirates Media in the United Arab Emirates. It has also started work on another press in Madinah.
Prince Faisal spoke of SRMG’s investment expansion into the specialized printing and publishing industries. “This demands establishment of infrastructure projects inside and outside Saudi Arabia,” he said. “Saudi Arabia has become a leading center for printing in the Arab world in addition to traditional centers in Cairo and Beirut,” the chairman said.
The deal with Hala is significant as Saudi Specialized Publishing Company (SSPC), a new SRMG affiliate, plans to bring out over 15 new publications this year. He said SSPC’s media projects would be similar to well-known specialized international publications in terms of quality and content. “More than 15 publications will be published by the new company,” he said, adding that they would join the newspapers and magazines produced by the Saudi Research & Publishing Co.
Dr. Azzam Al-Dakhil, executive vice president and board member of the group, said Khaled Al-Rasheed would continue as general manager of Hala Press and hoped he would take the company to new heights of success. Al-Rasheed expressed his happiness for becoming part of the successful working team at SRMG.