Latest news with #YusufBinAhmedKanoo
Trade Arabia
28-05-2025
- Business
- Trade Arabia
Kanoo Energy, Spirax Sarco partner to distribute steam management systems in KSA
Kanoo Energy, a division of Kanoo Industrial and Energy under the Yusuf Bin Ahmed Kanoo Group, has signed a landmark distribution agreement with Spirax Sarco, a global leader in steam and thermal energy solutions. The partnership will enable the distribution and local servicing of advanced steam management systems in the Kingdom, reinforcing both companies' shared commitment to national goals of industrial excellence and customer-centricity. With decades of operational expertise and regional insight, Kanoo Energy is uniquely positioned to bring globally trusted technologies closer to the Kingdom. Through this collaboration with Spirax Sarco, the company will now offer a comprehensive suite of steam system solutions; fully supported by in-Kingdom technical expertise, customer service, and local response. 'Our agreement with Spirax Sarco is a natural extension of our localization agenda,' said Ali Abdulla Kanoo, Deputy Chairman, Yusuf Bin Ahmed Kanoo and President of Kanoo Industrial & Energy. 'By strengthening local access to world-class steam technologies, we are supporting Saudi industries with faster delivery and enhanced service reliability, while contributing to the Kingdom's broader objectives of industrial self-sufficiency.' This distribution agreement will allow Kanoo Energy to represent and supply Spirax Sarco's full range of steam system offerings within Saudi Arabia, including energy audits & services. The initiative aligns closely with the goals of the In-Kingdom Total Value Add (IKTVA) program and the National Industrial Strategy, both of which aim to enhance local capabilities and stimulate economic diversification. Szymon UIanowski, General Manager, Spirax Sarco said: 'Signing this agreement marks the beginning of an exciting new chapter for both Spirax Sarco and Kanoo Energy in Saudi Arabia. We look forward to working closely together to support the Kingdom's energy sector with world-class steam management solutions and localized expertise." Through this agreement, Spirax Sarco joins a growing network of leading international companies working alongside Kanoo Energy to expand its service and technology portfolio in Saudi Arabia. From steam and fluid systems to diagnostics, flow control, and industrial safety services, Kanoo Energy continues to advance an integrated and locally enabled service model that supports Vision 2030's call for a resilient supply chain.
Zawya
17-04-2025
- Business
- Zawya
Amundi launches India Equity Contra fund in partnership with State Bank of India Funds Management
Dubai: Amundi, the largest European asset manager, and State Bank of India Funds Management ('SBI FM'), the leading and largest Mutual Fund player in India, announce the launch of a new sub-fund of Amundi Funds (the 'SICAV') Amundi Funds – India Equity Contra fund (the 'Fund'). This new Fund by Amundi and SBI FM reflects their long-term commitment to the Indian market and will combine the strength of Amundi's disciplined top-down approach with SBI FM's extensive bottom-up analysis of the Indian equity market. With this Fund, Amundi and SBI FM offer a unique, contrarian Indian equity strategy targeting Indian value stocks, with a focus on companies trading below their intrinsic value. The unbiased equity strategy offers the portfolio management team the flexibility to invest in overlooked opportunities, including stocks that are neither part of the main indices nor covered by sell-side research. This high conviction Indian equity fund complements the existing Amundi Funds SBI FM India Equity strategy, providing investors with access to a unique, value-driven Indian equity strategy to gain exposure to the rapidly growing Indian equity market. SBI FM have been managing the same strategy since 1999, and the assets under management of which exceed $4.5 billion4. However, it has historically only been available to local investors in the Indian market. The new fund launch provides international investors with access to this compelling investment strategy. The Fund has secured seed capital commitments from two prominent institutional investors, the Bahrain-based Yusuf Bin Ahmed Kanoo family, and the Corporate pension fund of a major Japanese financial group, underscoring strong market confidence in the firm's investment strategy and expertise. Amundi also provided seed capital, demonstrating commitment and alignment with our investors. With the backing of these anchor investors, the fund is well-positioned to capitalize on emerging opportunities and generate attractive returns for its investors. Ziad Sikias, CEO Middle East, Africa and Central Europe from Amundi said 'The joint venture between Amundi and State Bank of India, SBI FM, manage over $300 billion in assets under management. We are delighted to be working with SBI FM to provide investment opportunities to both retail and professional investors in India and internationally' State Bank of India is the largest commercial bank in the country, serving over 500 million clients through a vast network of over 22,500 branches, with a focus on innovation and customer centricity. Amundi Funds – India Equity Contra fund will be managed jointly by Thomas Yeung, Senior Portfolio Manager at Amundi, Gwendolen Tsui, Senior Portfolio Manager at Amundi, and advised by Dinesh Balachandran, Head of Equity at SBI FM. The portfolio management team is built on the combined resources of Amundi's successful Emerging Markets platform and SBI FM's dedicated Indian investment team, one of the largest in the country. For further information please contact Nigel Sillitoe CEO, Insight Discovery Mobile: +97155 8809676 Email: sillitoe@
Mid East Info
14-04-2025
- Business
- Mid East Info
Kanoo Machinery powers Saudi Arabia's F&B Sector with Advanced Industrial Solutions at SaudiFood Manufacturing 2025
Riyadh, Saudi Arabia, April 14th: Kanoo Machinery, a leading provider of industrial and construction equipment in the GCC, has announced its participation in SaudiFood Manufacturing 2025, a premier trade exhibition for the Kingdom's food and beverage (F&B) processing industry. Taking place between April 13 and 15, 2025, at the Riyadh Front Exhibition & Conference Centre, the exhibition returns for its second edition after a successful debut last year. As Saudi Arabia advances its food security initiatives under Saudi Vision 2030, several significant developments are set to transform the Kingdom's food and beverage (F&B) sector. Notably, the unveiling of the world's largest food park in Jeddah, which aims to attract $5.3 billion in investments, creating approximately 43,000 jobs by 2035. Ambitious projects such as these, underscore the Kingdom's commitment to evolving into a global hub for food production and distribution. Kanoo Machinery is firmly positioned to support these transformative initiatives with its future-ready engine & power, material handling, compressors and warehousing solutions – critical for streamlining food production and logistics. From state-of-the-art refrigeration and storage systems to advanced lifting and packaging equipment, Kanoo Machinery provides core solutions required for F&B facilities, ensuring efficient operations and compliance with food safety regulations. This year at SaudiFood Manufacturing, Kanoo Machinery will showcase its portfolio of specialized equipment alongside its key principals, including Combilift, Hyster, Snorkel, Perkins, and Kaishan focusing on innovation and collaboration within the F&B sector. The company's solutions cater to the entire food production value chain, aligning with Saudi Arabia's vision of a self-sufficient and resilient food manufacturing ecosystem. Ali Abdulla Kanoo, Deputy Chairman, Yusuf Bin Ahmed Kanoo and President of Kanoo Industrial & Energy, said, 'Kanoo Machinery has long supported Saudi Arabia's industrial evolution with dependable, high-performance machinery. Our presence at SaudiFood Manufacturing 2025 reaffirms our dedication to empowering the F&B sector with reliable equipment solutions that drive efficiency and growth. This is where our legacy of engineering excellence meets the future needs of a growing industry.' Fahad Kanoo, Deputy Chairman of Kanoo Industrial & Energy, added, 'SaudiFood Manufacturing 2025 offers a powerful platform to engage with sector stakeholders and spotlight how industrial machinery is reshaping the future of food production in the region. At this year's exhibition, Kanoo Machinery will showcase its capabilities to serve the sector with our portfolio of innovative solutions that bring tangible value and support Saudi Arabia's food security goals.' Manoj Tripathy, CEO of Kanoo Industrial & Energy, commented, 'Kanoo Machinery stands ready with world-class technologies, quality service, and Saudi-specific expertise to help businesses scale efficiently while maintaining the highest standards of productivity and industrial performance. Our participation highlights our strategic intent to be an end-to-end partner in operational success for food manufacturers across the Kingdom.' With a keen focus on customer service excellence, Kanoo Machinery provides comprehensive after-market support, technical assistance, and customized operational solutions to cater to various industrial sectors, including food processing and manufacturing. With over 550 exhibitors from 70+ countries, the Saudi Food Manufacturing Exhibition 2025 will allow visitors to explore the latest advancements in industrial equipment, engage with industry experts, and discover how Kanoo Machinery is shaping the food manufacturing sector with its future-ready offerings.
Trade Arabia
19-02-2025
- Business
- Trade Arabia
Kanoo Machinery unveils innovative products at Jeddah event
Kanoo Machinery, a leading provider of world-class industrial machinery and solutions in the region, showcased a range of its advanced machinery at the Kanoo Machinery Open Day held recently at its facility in the Saudi port city of Jeddah. The Open Day, held on February 11, featured live displays and demonstrations of newly launched equipment, including the Grove TMC Crane, as well as handover ceremonies for recently acquired machines. The event was attended by prominent industry leaders, business partners, and customers, who had the opportunity to explore advanced solutions designed to improve and enhance operational efficiency across industries. It served as a platform to showcase Kanoo Machinery's state-of-the-art machines and equipment from its esteemed partners and principals, said the company in a statement. A key highlight of the event was the signing of a strategic agreement between Kanoo Machinery and Wacker Neuson, a leading manufacturer of construction equipment and compact machines. This partnership will enable Kanoo Machinery to distribute light construction equipment from Wacker Neuson across Saudi Arabia, it stated. Ahmed Fawzi Kanoo, Board Member Yusuf Bin Ahmed Kanoo, said: "The Open Day event opened doors to enhanced collaborations and new partnerships with stakeholders across the value chain, while showcasing our future-ready offerings in the machinery space." "We remain committed to staying at the forefront in offering high-quality, reliable, and customer-centric services to meet the evolving needs of the construction industrial sectors in KSA and the GCC region," he added. The Saudi Arabian market, especially in the Western region, is witnessing rapid growth, attributed to the presence of large-scale infrastructure projects such as NEOM and ongoing developments in Makkah, Madinah and Jizan. Kanoo Machinery remains committed to supporting these initiatives by offering its cutting-edge machinery and equipment ensuring that their products and solutions are in-line with current and upcoming projects within the region, noted Kanoo. The strength of Kanoo Machinery is its comprehensive after-market solutions, parts showrooms and dedicated customer service centers spread across the Kingdom of Saudi Arabia, he added. Manoj Tripathy, CEO of Kanoo Industrial & Energy, said: "It was a pleasure hosting the Kanoo Machinery Open Day at our Jeddah facility, which provided us with valued interactions with our esteemed clients, suppliers, and industry professionals." "The event highlights our emphasis on providing excellent service and building long-term relationships with our diverse client base," he added.
Zawya
18-02-2025
- Business
- Zawya
Kanoo Machinery hosts open day, showcasing advanced machinery and strategic partnerships
Jeddah, Saudi Arabia: Kanoo Machinery, the leading provider of world-class industrial machinery and solutions in the region, successfully hosted Kanoo Machinery Open Day on February 11, 2025, at its facility in Jeddah. The event served as a platform to showcase Kanoo Machinery's state-of-the-art machines and equipment from its esteemed partners and principals. Attended by prominent industry leaders, business partners, and customers, the event featured live displays and demonstrations of newly launched equipment, including the Grove TMC Crane, as well as handover ceremonies for recently acquired machines. Clients had the opportunity to explore advanced solutions designed to improve and enhance operational efficiency across industries. A key highlight of the event was the signing of a strategic agreement between Kanoo Machinery and Wacker Neuson, a leading manufacturer of construction equipment and compact machines. This partnership will enable Kanoo Machinery to distribute light construction equipment from Wacker Neuson across Saudi Arabia. The Saudi Arabian market, especially in the Western region, is witnessing rapid growth, attributed to the presence of large-scale infrastructure projects such as NEOM and ongoing developments in the Holy city of Makkah, Madinah and Jizan. Kanoo Machinery remains committed to supporting these initiatives by offering its cutting-edge machinery and equipment ensuring that their products and solutions are in-line with current and upcoming projects within the region. The strength of Kanoo Machinery is its comprehensive after-market solutions, parts showrooms and dedicated customer service centers spread across the Kingdom of Saudi Arabia. Ahmed Fawzi Kanoo, Board Member Yusuf Bin Ahmed Kanoo, commented, 'The Open Day event opened doors to enhanced collaborations and new partnerships with stakeholders across the value chain, while showcasing our future-ready offerings in the machinery space. We remain committed to staying at the forefront in offering high-quality, reliable, and customer-centric services to meet the evolving needs of the construction industrial sectors in KSA and the GCC region' Manoj Tripathy, CEO of Kanoo Industrial & Energy added, 'It was a pleasure hosting the Kanoo Machinery Open Day at our Jeddah facility, which provided us with valued interactions with our esteemed clients, suppliers, and industry professionals. The event highlights our emphasis on providing excellent service and building long-term relationships with our diverse client base' With over 60 years of expertise, Kanoo Machinery continues to be a trusted industry leader, providing reliable, high-quality solutions to meet the evolving needs of its diverse client base.
