Forsan Ceramics applauds the excellent opportunities for growth in Saudi – forecasts 10% market share by 2017
ST HELIER, Jersey, Sept. 09, 2016 (GLOBE NEWSWIRE) — Dr. Khater Massaad, CEO of Al Forsan Global Industrial Complex (‘Forsan Ceramics’) in the Kingdom of Saudi Arabia (‘Saudi’) today applauded the advantages presented to the fast growing company by the strong growth opportunities in the Kingdom.
Forsan Ceramics, based in the King Abdullah Economic City on the Red Sea coast of Saudi, was only set up in 2011, and is the result of a $186m investment with local Saudi partners.
The population of 30 million in the Kingdom is believed to be growing every year by 3-4% with 500,000 new apartments needing to be built annually to match demand as well as the numerous public and municipal projects, such as schools and hospitals, required to meet the needs of the growing population.
Forsan Ceramics has forecast it will have a 10% market share in the fast growing ceramics and porcelain market in Saudi by the beginning of 2017 as the combination of its highly experienced team, investment in the latest machinery and the underlying population growth all combine to create a world beating team.
Dr Khater Massaad commented: “Saudi is a young and dynamic country with high standards and a genuine interest in diversifying away from its well-known dependence on oil revenues. But few acknowledge it also has excellent raw materials, plentiful supplies of the natural gas required to fire our state of the art kilns and a steady supply of good labour.
“When we started the business in 2011 we knew that Saudi would present us with a large and growing market, but we are quietly pleased by the way it is so far turning out. As long as the population continues to grow, there will be an increasing need for the quality ceramic tiles and sanitary ware we produce.”
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Notes to editors
Dr Khater Massaad
Dr Khater Massaad, the Chief Executive of Forsan Ceramics, is a Swiss national with a Ph.D. in Geophysics and M.Sc. in Mathematics. His business pedigree includes setting up RAK Ceramics in the early 1990s which over the next 20 years he turned into the world’s largest ceramics producer.
Forsan Ceramics is a brand of the umbrella company Star Industrial Holdings. The Al Forsan Global Industrial Complex is based in the King Abdullah Economic City and enjoys a competitive edge over many domestic and international ceramic and porcelain manufacturers. Having been established as recently as 2011, it has been able to invest in the latest machinery and deploy the best techniques and technology in the industry along with the highest quality raw materials.