JEDDAH, 14 November 2007 — A US trade delegation from the state of Virginia, which held a meeting at the Jeddah Chamber of Commerce and Industry yesterday, is keen on finding partners for joint ventures. “Some of its members are also considering the prospects of joint ventures in manufacturing facilities,” Mark C. Myrick, head of the delegation and international trade manager at Richmond-based Virginia Economic Development Partnership, told Arab News on the sidelines of the team’s meeting with local businessmen.
“Metal fabrication is one of the areas for joint venture manufacturing facilities some of the delegates are looking into,” Myrick said.
Virginia, which is rich in raw materials like wood and coal, has a $500 million annual trade volume with the Middle East including Saudi Arabia. “Half of this volume is with the Kingdom,” Myrick said, adding that Virginia’s trade with the Kingdom increased 17 percent in 2006 over 2005. “We hope to maintain a similar increase this year,” he added.
Asked about Virginia’s imports from the Kingdom, Myrick said: “Virginia gets its share from the overall $21 billion imports from Saudi Arabia, 98 percent of them oil.” John Munford, president of Riggins Company, said the company, a custom fabricator and manufacturer of pressure vessels and heat exchangers certified by the American Society of Mechanical Engineers, was looking for local agents and distributors. He is keen on interacting with top management from companies that build or operate industrial plants. “We want to promote our shell and tube heat exchangers to the petroleum, petrochemical and power generation industries,” he said.
Steve Hix, CEO, I3 (Identification International, Inc.), said the company had excelled in designing and manufacturing biometric solutions for use in security applications. Its products include the dig ID Series — optical live scan devices. These portable and sophisticated tools scan fingerprints for use in criminal background checks.
John Sexton, president of Sexton Executive Security, said the company was leading in executive security services which include confidential investigations, executive and personal protection, and security consulting. It is looking for partners interested in private investigations, executive protection training for local staff, executive protection for travelers heading for the US.
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