Saudi Printing and Packaging Company (SPPC), a subsidiary of Saudi Research & Marketing Group, has acquired 100 percent stake in Emirates National Factory for Plastic Industries (ENPI), Arab News announced recently.
UAE-based ENPI, which specialises in producing solid and flexible plastic products and has eight factories in Sharjah, Abu Dhabi and Riyadh, was previously owned by Qatar First Investment Bank and Nizar Rajoub and Omar Al-Shamsi.
   “The acquisition of ENPI by SPPC was the result of a long journey that began last year to ensure the second phase of the company’s growth,” said Sulaiman Al-Hudeithi, chairman of SPPC’s board in an interview with Arab News, adding that the deal was reached following the board’s approval.
     “As board of directors, we believe that the growth of regional companies listed on the Saudi bourse can be achieved through acquisition and merger,” Al-Hudeithi added. “The acquisition will help us market our products in more than 50 countries.”