Saudi Readymix Exceeds Production Goals for 2006

Saudi Readymix announces it exceeded its planned production of 3 million cubic meters of concrete per year, reaching this mark for the first time in its history.

"2006 has been a landmark year for Saudi Readymix with many important milestones. Exceeding the 3 million cubic meter mark is the perfect culmination for what has been a tremendous year." said Rami Alturki, President of Saudi Readymix.

Saudi Readymix is currently in the process of implementing a five-year expansion plan having expanded its network of commercial batching stations to a total of 19 in 2006 in addition to five on-site plants stations located throughout Saudi Arabia. This network is strategically distributed to supply construction projects in all major metropolitan areas in the Eastern, Central and Western Provinces.

"We plan to increase capacity and coverage further in 2007 by adding another two commercial batching stations and at least another five on-site plants, as well as two new quarries. We also plan to expand our fleet of mixer trucks and equipment to service this growing network. These expansions are part of an investment plan in which we are looking to spend over SR 320 million ($85.3 million) in order to meet the growing demand of the industry,"

Alturki continued.

Saudi Readymix is also looking to increase its production volume by more than 30% annually beginning in 2007 via the acquisition of other ready-mixed concrete producers as well as the construction of a host of new plants throughout the Kingdom.

"Our five-year expansion plan has been moving steadily forward, and we have set our target for 2007 at 4 million cubic meters of concrete. At the same time, we will continue to anticipate the needs of the industry and move to meet them, thereby providing the best possible service to our customers and the industry as a whole," concluded Alturki.