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SAF Tehnika to establish a joint venture in Middle East

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The telecommunications equipment manufacturer AS SAF Tehnika has concluded an agreement with the Saudi Arabian company Najahat Development&Investment on setting up a joint venture SAF Tehnika Middle East.

According to SAF Tehnika announcement on the stock exchange NASDAQ OMX Riga, the joint venture will mainly focus on providing clients with individually-designed and effective wireless data communication solutions for the Middle East region. Telecommunications providers, as well as private and public companies will be the main product and service clients

SAF Tehnika’s managing director Jānis Ennītis explains the joint venture establishment with the constant increase in demand for telecommunications equipment, as well as with customers’ trust in the Middle East region.

Both the sides have agreed the Saudi Arabian company will be the largest shareholder of SAF Tehnika Middle East, the Latvian company’s public relations specialist Evija Baula reveals to the business portal Nozare.lv.

The representation of SAF Tehnika Middle East Ltd will be situated at Saudi Arabia’s capital Riyadh.

However, Baula admits it is not yet known when the joint venture will be established.

SAF Tehnika‘s advantages in the Middle East market are the company’s manufactured micro-wave radios capable of transmitting signals over long distances, in a dusty environment and also at high temperatures (up to 55 degrees Celsius), so the production is suitable for the region’s climatic and geographic conditions.

Currently, SAF Tehnika exports to almost 100 countries worldwide.

BNN already reported SAF Tehnika‘s second quarter unaudited net turnover of fiscal year 2010/11 totalled 2.97 million lats, outdoing the previous fiscal year’s second quarter performance by 44%.

The six months unaudited net turnover of the fiscal year 2010/11 comprised 6.13 million lats, showing a growth of 65%, compared to the first six months of the previous fiscal year, informs SAF Tehnika.


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