TPT May 2007

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20 May/June 2007
Industry News
Socotherm Middle East, subsidiary of
Socotherm, has established a new joint
venture in Dammam, called Socotherm
Arabia Ltd, in order to enter the Saudi
market. The new JV has been established
between Socotherm Middle East with a
participation of 56.65 per cent and 14.5
per cent each for three important local
industrial partners: the Global Suhaimi
Group, the Al Shoaibi Group and the Al
Khalaf Group.
Although the new plant will be installed in
Dammam by the end of 2007, during the
interim period, Socotherm Middle East will
support Aramco from their Qatar operation
on any critical projects. The coating facility
will be a highly advanced plant with a
capacity to coat pipe from 6-60" with fusion
bond epoxy, 3 layer PE and internal fusion
bond epoxy or liquid epoxy, as well as a
double joint facility. The plant will serve the
local oil and gas market together with the
water market.
Saudi Arabia, the world’s biggest oil supplier,
has announced the plan to increase its
crude oil production capacity by nearly 40
per cent by 2009 with a total investment
of US$80bn. This would consequently
increase its crude production capacity to
12.5 million barrels a day from the current
figure of 9 million barrels.
“The Middle East market has been
dominated for over 20 years by our North
American competitor but after only two years
of operation in Qatar, Socotherm Middle
East has received over 70 per cent of the
Middle East market share outside of Saudi
Arabia,” says Mr Zeno Soave, chairman and
CEO of the Socotherm Group.
“Therefore the managing director of
Socotherm Middle East, Mr Bo Crawley, has
been charged to carry out this new initiative
in Saudi which expects a total investment
of approximately US$50 million,” concludes
Mr Soave.
Socotherm Group – Italy
Fax: +39 0426 901 055
Email:
Website:
GIMME the best for metals
manufacturing in China
The Guangzhou International Metal &
Metallurgy Exhibition (GIMME) will take
place for the 8th time from 21-24 June
2007. Taking place at the Guangzhou
International convention and exhibition
centre, China, it is reported that 70 per cent
of 1,800 exhibition stands have already
been booked. Covering 40,000m 2 of exhibit
space, 30 per cent of exhibitors have also
requested larger exhibit areas.
The event consists of five exhibit areas,
including processing equipment (wire, bar,
Socotherm establishes new JV in Saudi Arabia
fi GIMME will take place at the Guangzhou
International convention and exhibition centre