Jun 26, 2014
Alturki Holding announced on June 26, 2014 completing the sale of Inma Pallets Ltd, one of Alturki’s fully owned subsidiaries to Bawan Wood Industries and United Wood Products Co., subsidiaries of Bawan . Bawan Wood and United Wood Products Co. are now the sole owners of Inma Pallets Ltd, a leading supplier of industrial wooden pallets in Saudi Arabia.
Rami Alturki, President & CEO of Alturki, commented on sale by saying; “We are proud of our success with Inma Pallets over the past 30 years from a pioneer to one of the most recognized brands in its industry. I believe this transaction will add great value to both companies and create an undisputed market leader with significant growth potential under the outstanding leadership of the Bawan executive management team and board of directors.” This is the first transaction of 2014 for Alturki having successfully completed 2 acquisitions and created 3 new companies in 2013 as part of its strategic review and transformation.