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When the Aggad Investment Company was formed in 1975 I had three major objectives in mind: to play a significant part in industrialising the Kingdom of Saudi Arabia and developing its manpower, and, in pursuit of these two objectives, to generate adequate profits for expansion.
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In
recent years the Kingdom has experienced unprecedented expansion in
the industrial and service sectors thus presenting new opportunities
and opening new horizons. AICO
has consequently utilized its resources
to invest in companies in the manufacturing, contracting, distribution,
service and consumer product sectors. Our portfolio of holdings has
always been adaptable to where we feel our largest opportunities are.
Our intention is to make each company we invest in a market leader,
and to ensure this we have developed a five-point strategy which has
proved both durable and adaptable:
We have always seen the way ahead by focusing our resources on improving our performance in every possible direction, especially by giving every encouragement to our most valuable resource -our employees - with particular emphasis on initiative and teamwork. "If you want to single out the most important factor in success, it is the right people in the right jobs." These principles have served us well over the years, and have enabled us to find opportunities for expansion even in the difficult conditions that our core industrial businesses experienced in times of economic downturns. Energetic marketing and careful cost-cutting helped the group survive in robust financial health, but, more important still, our philosophy of seeking new opportunities has added several companies to the group. While some are natural developments of our existing businesses, in many cases our entrepreneurial outlook enabled us to diversify into service enterprises and consumer product manufacturing with little difficulty. It was by spreading its operations into these sectors that the group continued to achieve stable growth even in difficult times. The consumer product sector in particular has already demonstrated a healthy capacity for growth when products are researched exhaustively and targeted accurately. The service sector becomes increasingly important as the Kingdom's industrial infrastructure expands, creating a growing market for maintenance and operational servicing. "Quality is by far the most important aspect of any of our activities" In all our operations, new or well-established, quality is pre-eminent. We permit no substandard products or services, and many of our industries have been the first in their sector to win certification from the Saudi Standards Organization. To maintain quality we constantly upgrade our technology, as well as instituting strict control regimes. We have resisted the pressure to compromise on quality in a price-sensitive market, and in the long term it has proved the right approach.
The
future of the group lies in our readiness to diversify, to hire and
train the best staff, and to maintain the quality of our products.
We have shown that we possess these qualities and, in the favorable business climate created by the Saudi Government, we have every
confidence that we will continue to prosper through the decades to
come.
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