SABIC unit invests in reverse engineering firm

Wed, 2020-12-09 18:58

RIYADH: Nusaned Investment, a Riyadh-based investment company fully owned by chemical manufacturing conglomerate SABIC, has signed an agreement to invest in a firm involved in reverse engineering industrial parts for the energy, desalination, petrochemical and defense sectors.

The investment will be in DarTec Engineering Consulting, a company established in 2012 to provide advanced reverse engineering services to the Kingdom’s industrial sector.

“Investing in DarTec and partnering with such experienced founders fulfills Nusaned Investment’s mandate of investing in leading industrial SMEs in the Kingdom,” Faisal Al-Bahair, VP, Local Content & Business Development Unit and CEO of Nusaned Investment, said in a press statement.

“The services of DarTec will help the industrial sector localize the spare parts supply chain, shorten lead time, reduce spare parts cost and develop local talent in the new engineering sector.” 

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