MOP Environmental Solutions announced the signing of a preliminary agreement to set up a division of the company in Saudi Arabia to facilitate the manufacture, distribution and R&D of MOP Environmental Solutions products in the Middle East region.
Commenting on the agreement MOP Environmental CEO Charles Diamond said: “We have entered a 90 day period of negotiations within which to conclude the terms of a Joint Venture for MOP Environmental Solutions, Inc., to establish a working presence in Saudi Arabia. The mutually agreed upon name is MOP Environmental Solutions of Saudi Arabia (MOPN-SA). During the negotiation period of this joint venture, the Saudi Arabian contingent, at their request, wishes to maintain their anonymity, and will be referred to as (Team SA).”
Diamond continued: “With the signing of the agreement with Team SA, our focus is on the completion of a MOP Saudi Arabia Executive Plan of Action to service all the possible applications, markets and industries throughout Saudi Arabia, Turkey, and the Middle Eastern Region. Team SA has a respected and established relationship with Saudi Aramco and is also respected in the field of oil spill response throughout Saudi Arabia, the Gulf Cooperation Council (GCC) countries, Turkey, and the entire Middle Eastern Region. Prior to the signing of an agreement with Team SA, it was under consideration to work through a large Saudi Arabian corporation for the distribution of our products throughout the Middle Eastern region. The establishing of a working presence within Saudi Arabia offers many competitive and cost advantages over the prior consideration of a presence in Saudi Arabia exclusively through a distributor.”
Diamond concluded: “We are very pleased with the progress we are making within Saudi Arabia. This agreement is an important step toward establishing a strategically important international presence within the largest oil producing region of the world.”
