RIYADH, 8 February 2007 - Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC), received at his office chairman of General Electric Company (GE) and CEO, Jeffrey R. Immelt and an accompanying delegation which included, Nani Beccalli, president and CEO of GE company, International, Nabil A. Habayeb, president and CEO of GE, Middle East and Africa and Ali Hakami, general manager of GE in Saudi Arabia. The meeting was attended by members of KHC which included, Talal Al-Maiman, executive director of local investments, Heba Fatani, executive manager corporate communications department and Nahlah Alanbar, protocol department Manager.
During the meeting GE's members highlighted the current performance and successful achievements of the company as GE is one of the first companies specializing in technological and electrical devices. Immelt referred to the GE company's rise in profits by 11 percent in 2005 and the company's growth in revenue which reached 8 percent. Also during the meeting, the GE company chairman presented Prince Alwaleed with an opportunity to invest in the company to establish a business cooperation between KHC and GE company. Prince Alwaleed and Immelt formed a committee to explore business ventures and all possible means of cooperation locally and regionally. The committee includes senior GE management, headed by Al-Maiman from KHC to study and explore potential business ventures for implantation.
