LOS ANGELES, Sept. 17, 2013 /PRNewswire/ --Pentair Ltd. (NYSE: PNR), a global water, fluid, thermal management and equipment protection company, announced today the signing of a Memorandum of Understanding (MOU) with the Ali Abdullah Al Tamimi Company to form a joint venture to further establish a local presence to manufacture, sell and service Pentair's products in Saudi Arabia. The MOU was announced at the US-Saudi Business Opportunities Forum in Los Angeles, California.
"Pentair is excited by the opportunity to work with Ali Abdullah Al Tamimi Company in the largest energy market in the Middle East region," said Ramesh Nuggihalli, vice president and managing director for Pentair in the Middle East. "We are committed to local manufacturing in this region, which not only creates jobs and economic benefits, but offers greater efficiencies for customers and opportunities for collaboration."
"We are pleased to be further extending our relationships with Pentair," said Sulaiman Alrumaih, vice president of Power and Industrial for the Ali Abdullah Al Tamimi Company "Our combined strength will help serve the growing needs of the energy and water sectors. Pentair's proven operating processes are an excellent foundation to accelerate a strong manufacturing base in the Kingdom."
Pentair has more than 1,200 employees in Saudi Arabia/Middle East, including manufacturing and office facilities. For additional information, visit pentair.com.
ABOUT PENTAIR LTD
Pentair Ltd. (www.pentair.com) delivers industry-leading products, services and solutions for its customers' diverse needs in water and other fluids, thermal management and equipment protection. With pro forma revenues of approximately $8 billion, Pentair employs more than 30,000 people worldwide.
ABOUT ALI ABDULLAH AL TAMIMI COMPANY
Al Tamimi Established in 1953, consists of over 40 well known and well established Saudi Companies. The Head Office is based in the city of Dammam in the Eastern Province of Saudi Arabia with regional offices in all the major cities of Saudi Arabia and GCC. More than 16,000 employees work in different divisions.
Pentair Middle East
Tel: +971-4-378-1700 Ext.789