Saudi Chemical completes holding company transformation, sets up 2 strategic business units

Saudi Chemical Holding Co. has recently completed the transformation program of its holding company.

The program aims to maximize benefit from the integration of Saudi Chemical’s subsidiaries in order to provide solutions, raise the quality of products and services provided to its clients, improve performance and profitability, develop employees, and enable the company to face various challenges.

According to a bourse statement, the company's transformation program works on designing and providing a set of necessary enablers, including developing appropriate systems, enhancing innovation and training, as well as raising the efficiency of available cadres.

To support this program, the company established 2 strategic business units in addition to other business support units, directly linked to the Group CEO, Thamer bin Mohammed Al-Muhid, as follows:

Strategic Business Unit of Explosives: Includes manufacturing, marketing, sale and trade of civil and military explosives in addition to related services and solutions. This unit will be associated with the Saudi Chemical Company Limited and Suez International Nitrate Company (SINCO) and will be headed by the CEO of the explosives segment, who will be appointed later.

Strategic Business Unit for Pharmaceuticals: Includes manufacturing, marketing, distribution, sale and trade of medicines, medical and non-medical equipment produced in the company's plants, AJA Pharma, or through its global agencies. It will be linked to the Saudi International Trading Co. Ltd. (SITCO Pharma), AJA Pharma and Chemical Commercial Investment Company Ltd. (CCCI).

This unit will be headed by Ismail Shehadeh, CEO of pharma segment as of June 28, 2020. Shehadeh has over 20 years of experience gained from several leadership roles in international pharmaceutical companies, the last of which was being the GCC general manager at AstraZeneca Co.

Business Support Units: Include existing and newly created departments namely financial, joint services, legal management, transformation, risk and fraud, and internal audit.

Saudi Chemical emphasized that it is working towards completing the transformation plan that will enhance its position locally, regionally and globally; achieve its promising ambitious vision to raise the level of the company and its employees; and achieve a rewarding return for its shareholders.

The transformation process is expected to continue until the end of 2020, the statement said, adding that any material developments will be disclosed in the future.