15 Oct 2015
Nama Announces Signing of a Marketing Services Agreement between Jana and Huntsman
Nama Chemicals announces that Jana, its affiliated company, has signed an agreement on October 12, 2015 to sell Solid Epoxy Resins for powder, can and coil coating markets in Europe under Araldite brand owned by Huntsman. Marketing Services Agreement with Huntsman Advanced Materials (Europe) BVBA.
This strategic agreement will combine the joint strengths and experience of the two companies to ensure a sustainable and competitive offering for coatings customers across the European region.
Commenting on the agreement, Mr. Kamal Fatayerji, the CEO of Nama said, “This alliance is expected to enable Jana to continue on its growth path, by reaching new customers in Europe, and providing them with the highest quality ARALDITE® branded products.” The agreement is for a term of five years with possible extension.
Jana is Saudi Company located at Jubail Industrial City, and owned several factories to produce different chemicals, including epoxy Resins, caustic soda, and ECH, in addition to other intermediate materials. Nama owns 95% of Jana ownership and Nama Industrial Investment Company (a subsidiary of NAMA) owning remaining. The financial impact of this agreement is expected to appear in the second quarter of 2016.