About

Tasnee, or National Industrialization Company, was originally founded in 1985 as a joint-stock company when the Saudi Arabian government’s aim was to increase the competency base of the Saudi economy into new areas. Primarily involved in the now vibrant Saudi petrochemical and industrials sector, Tasnee is one of the success stories of these diversification efforts, with thousands of employees and a turnover numbering in the billions of dollars. Tasnee has in the past year been skilfully negotiating potential pitfalls related to falling oil prices, with risk management and process improvement being particularly applicable skills that the legal team has been able contribute to business efforts during this time. While economy-saving efforts have had to be undertaken and margins have been squeezed, the company has nevertheless remained profitable and continued to make positive business movements. A multi-million dollar joint venture, for instance, has been signed to produce titanium products with a Japanese company, and this is scheduled to begin operation next year. As the company looks for greater efficiency savings in the future through M&A activity, the legal department at Tasnee will again be given ample chance to prove their abilities and professionalism.