Albusaili & Co. Signs Joint Venture with 3M Tecnologie Meccaniche
Riyadh, Saudi Arabia – On February 5, 2024, the final phase of the Joint Venture between the prestigious Saudi company Albusaili & Co. and the Italian firm 3M Tecnologie Meccaniche culminated in the formation of TALEEF Industrial Company in Riyadh.
This significant collaboration was officially signed at the FUTURE PROJECT FORUM 2023 in Riyadh, held at the Four Seasons Hotel. The Joint Venture is established under the laws of the Kingdom of Saudi Arabia and involves the creation of the AlBusaili 3M for Mechanical Industrial Manufacturing & Services Company.
This partnership combines the expertise and resources of both companies to develop advanced and innovative technologies in the mechanical and robotics sectors across Saudi Arabia and the entire GCC region. The unified venture will command a workforce of over 1,200 production units contributed by the two groups.
Albusaili & Co., based in Saudi Arabia, is a global leader in the electromechanical sector, known for its state-of-the-art solutions and strong presence in international markets. 3M Tecnologie Meccaniche, based in Rocca D’Evandro, Italy, is a recognized leader in mechanical processing with a long history of delivering quality solutions. Their combined experience and vision create a perfect synergy.
The sectors and services covered by the new company include:
This strategic partnership allows our companies to collaborate more efficiently through constant consultation on all projects, shared resources, and best practices,” explained Engineer Marandola, Attorney for 3M. “The goal, through joint research and development projects, will be to create cutting-edge solutions, addressing even the most ambitious and complex challenges the near future holds.”
The partnership was announced at the Future Projects Forum (FPF), a key platform in the Middle East for showcasing current and future projects aligned with Saudi Vision 2030. The Saudi economy, one of the strongest and largest in the Arab world, presented opportunities worth 2.150 trillion SAR in total project value at the event, which brought together over 32 project owners and 10,000 participants.
3M Srl, celebrating 30 years in business, is a family company led by two generations of the Marandola family. Founded by Mario Giacomo Marandola in 1993, the company specializes in third-party mechanical processing and custom-built industrial machines and plants for a diverse, international clientele.
Seriousness, professionalism, transparency with the client, and competence—these are the requirements that have allowed us to branch out into the Italian and international markets,” says Ivan Marandola, CEO. The company’s international vision has led to continuous investments and the establishment of new bases in the Gulf region, including Bahrain and Saudi Arabia, which they see as key to future commercial development.
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