Stork and Al-Rashed Group for Projects sign agreement

Stork, a global provider of knowledge based asset integrity services and Al-Rashed Group for Projects Holding Co. KSCC, a major participant in Oil & Gas, Utilities, Infrastructure and Power Transmission & Distribution projects, are pleased to announce that, on 5 February 2013, an agreement was signed to formalise their relationship with Stork taking a 49% shareholding in Al-Rashed Cooperheat Trading & Contracting Co WLL. Post signing, the Company will be converted to a KSCC Company and renamed Stork Kuwait. The company will offer specialised technical services with world class and high quality services to the oil & gas, petrochemical and power sector.

Mr. Abdulaziz Al Rashed, Chairman & MD of Al-Rashed Group for Projects Holding stated: “Stork enjoys a worldwide reputation as a leading provider of highly specialist services in a number of major industrial sectors. Al-Rashed Group for Projects Holding is delighted and honored that Stork has made this significant commitment to participate in the future development of the State of Kuwait.

Doug Meikle CEO of Stork declared that his company’s expansion in the Middle East is one of the key strategies the company has been planning for the last few years; “That is why we are very pleased to affirm our cooperation with such an outstanding company as Al Rashed.  We are honoured to work with Al Rashed and look forward to continuing our long relationship.’

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