Saudi readymix announces record expansion plans 2008

Saudi Readymix Concrete Company has announced an almost 40% increase in capital investments for 2008 over 2007, with a total value set to reach a record SR 440 million. The investment is aimed at further cementing Saudi Readymix as the leader in providing the fastest and most effective concreting solutions in the Kingdom.

A large part of the investment is earmarked towards opening at least 7 new stations in some strategic locations within the Kingdom, bringing the total number of stations by year's end to 34.The new stations will include 13 new concrete batching plants, raising the total number of plants operated by the company to 70.

In addition, the Company will fortify its fleet with an additional 100 state-of-the-art mixer trucks and 36 mobile concrete pumps, bringing the total fleet numbers to 500 mixer trucks and 170 pumps.

With the network and fleet expansions, Saudi Readymix has set a target of 5.2 million cubic meters of concrete, up from the 4 million cubic meter target, achieved 2007, representing a 30% increase.

"Our main goal is to build on the tremendous success we accomplished last year by continuing to provide the fastest and most effective concreting solutions in the industry. The new station locations, further integration of our supply chain, and substantial increase in our fleet are designed to help us sustain our leadership position within the industry," said Rami Khalid Alturki, President of Saudi Readymix.

Furthermore, Saudi Readymix plans to operate two new quarries and expand its existing ones, bringing the total number of Saudi Readymix quarries to five and tripling the company's aggregate production capacity. The Company also plans to add more than 800 new jobs to its existing workforce, bringing the total number to 2,800 people.

"We have set ambitious goals for ourselves in 2008, all of which represent the next steps in our five-year expansion plan, coinciding as well with the rapidly developing construction market in Saudi Arabia, through which we will strive to provide the best possible services to our customers and the industry as a whole." concluded Alturki.

Notes and contacts About Saudi Readymix

Saudi Readymix is the leading producer and supplier of ready-mixed concrete and related products in Saudi Arabia. It was established in 1978 and is a wholly-owned subsidiary of Khalid Ali Alturki & Sons group of companies (Alturki Group), a leading industrial conglomerate.

Saudi Readymix employs a total workforce of over 2,000 managerial, administrative, technical and operational staff. Its teams of technical experts offer technical advice and assistance to customers throughout the Kingdom. They operate local, regional and central laboratories, which develop mix designs, conduct routine testing and analysis on its concrete products and research new products under development. They also conduct in-house technical training of all its employees.

Since its establishment, Saudi Readymix has worked on an impressive array of prestigious projects for both the public and the private sectors. Most of the Company's stations are officially approved as suppliers to major governmental and industrial authorities, such as Saudi Aramco, SEC, SABIC, the Royal Commission, MoDA, among others.

The Company's network of plants and stations are strategically located throughout the Kingdom in order to cover all major commercial and industrial areas, including: Dammam, Sihat, Aziziyah, Hofuf, Jubail, Khafji, Khursaniyah, Riyadh North, Riyadh South, Riyadh West, Al-Kharj, Jeddah North, Jeddah South, Jeddah Briman, Makkah, Madina, Rabigh and Yanbu.

The Company currently operates the largest fleet of ready-mixed concrete equipment in the country with over 380 mixer trucks and 130 mobile pumps.

Its products include an immense library of concrete recipes, many of which are unique to the Company; hot mix asphalt; quarry products and concrete masonry units.