Anixter International Inc., Glenview, Ioll., is establishing a strategic partnership in Saudi Arabia with Mohawarean Trading Company (MTC), a subsidiary of Mohawarean International Group (MIG), through the formation of a new business entity, Anixter Saudi Arabia Limited. Anixter will have the majority holding in the joint venture. This deal follows previously Anixter's investments in the United Arab Emirates, Oman, and Qatar.
Commenting on this new venture in a press statement, Anixter's president and CEO, Bob Eck, said, "One of our key strategies is to expand the markets we serve, and we believe the Kingdom of Saudi Arabia presents a significant opportunity for Anixter and its business partners given the Kingdom's investments in infrastructure, strong economy, and strategic economic and geographic position in the Middle East markets that Anixter serves." Eck added, "We wish to thank MIG for the in-depth guidance they provided in launching this new business. Their market presence, knowledge and on-going support will be invaluable to the business as we establish our position in the local market."