3 December 2019
Al Thekair General Trading and Contracting Company
Acquisition
Al Thekair sums up its business philosophy as: "We will not sell products which do not provide a genuine advantage over those available from our competitors, nor will we compromise our specifications to the detriment of our customers". Our Group was established in Kuwait in 1984 to provide a broad range of highly advanced computer and communication systems and services with the mission of making a significant contribution to the development of state-of the-art communication systems in Kuwait. At that time, the group represented several internationally known brands - Alcatel which is a French giant and one of the biggest telecommunications company in the world, also Reggiane which is an Italian company that manufactures gantry cranes and desalination plants, Electrowatt a Swiss-based company specializing in civil consultancy and project management and Trafalgar House a fashion house of renown. Al Thekair managed to secure several contracts with the Government of Kuwait. The achievements and enthusiasm of our team in meeting the challenges presented by the speed of change in computer technology and data communications rapidly made the company one of the leaders in the field. Over the past few years, that same enthusiasm has seen it grow into a major trading, consultancy and high technology group, spreading it's business activities throughout the Arabian Gulf. In 2004, the company diversified into the automotive industry with distributorship rights in Iraq for premium brands such as KIA Motors, Mazda and Eicher. Due to Al Thekair Co.’s diligent efforts, KIA Motors is the leading automotive brand in Iraq and is the third in the region. To further contribute to our success, we have achieved a partnership with the Government in Iraq to exclusively assemble semi knocked down vehicles, which will lower our import tax, lower the cost per license plate to the customer and contribute to Iraqi society by the hiring of local workforce. This opportunity not only will increase our sales and strengthen our market presence but also contribute to our social responsibility, which we consider to be of high importance. With such a diverse portfolio, a strong team and a wealth of experience we were motivated to further diversify. Al Thekair has a broad range of capabilities with the ability to provide services including but not limited to, sanitation, car rental, IT, vehicle maintenance, vessel repairs / modifications, etc. We have qualified access to view and participate in tenders for the US army’s projects in Kuwait. We acquired Al Madar Finance and Investment Company in 2017, a leading Islamic Investment and Finance company in Kuwait, listed on the Kuwait Stock Exchange. Through strategic capital restructuring we achieved a significant turnaround in the company’s leverage and profitability. In 2017 Our Group extended its footprint in the Kingdom of Saudi Arabia in the Medicare sector by setting up Health Care Centers. A multi-specialty hospital will be established in Year 2020. Automobile Distributorships for KIA Motors in fast developing economies are also being planned in the Year 2020 as part of an expansion drive. Business Growth will be achieved through Organic and Inorganic means with the objective of being Industry Leaders and Responsible Social Citizens in all the geographies we operate in. We have professional business leaders who run each business unit as an independent business center. All group companies are privately owned enterprises.