Message of the chairman
Despite the overall difficult international economic climate, Takween continued its achievements and success in plastic packaging, (PET) preforms and nonwoven fabrics industries. In the beginning of 2011 the company launched an IPO for 30% of its capital. With God’s will, the offering proved to be a great success in the Saudi Stock Market and was covered approximately six times. The key to the IPO’s success lay in the investors understanding of the many promising elements in Takween’s story, elements that every investor seeks when evaluating an investment opportunity.
Takween has been able to recruit the best minds and skills. Takween and its companies employed talented management professionals across all divisions. Amongst their greatest attributes is their ability to work as a coherent team which aligns with the company’s philosophy of investing all effort towards increasing shareholder value.
As a fundamental element of the Takween’s strategy, which the management team has devised a plan which includes an upgrade of the company’s ERP and database to a more sophisticated system which helps increase efficiency and decreases costs, and additionally integrates the resources of Takween and its associated companies so they can work together as a consolidated entity.
Another exciting development was adding a third nonwoven fabrics production line at the Petro-Rabigh Complex for Plastics Technology, a strategic investment that gives Takween a competitive edge and will hopefully leverage its market position, placing it way ahead of other companies in the region. We firmly believe that this project is a promising investment for the future.
On behalf of my fellow Board Members, I would like to congratulate Takween’s team and stakeholders for the completed accomplishments. We believe that success is the result of teamwork founded on a vision and leadership that can achieve the company’s strategic objectives.Abdullah Mohammed Al-Othman