Assystem Radicon makes new engineering offer in KSA

In the presence of French Ambassador Bertrand Besancenot, and Dr. Mohamed Al-Kathairy, secretary general of the Riyadh Chamber of Commerce and Industry (RCCI), Assystem announced it has completed the acquisition of 75 percent stake in the Saudi engineering company Radicon Gulf Consult (Radicon) to create a new engineering offer in the Saudi market – Assystem Radicon.
Under the acquisition, Radicon continues to retain 25 percent share in the newly formed company.
Assystem is an international and independent engineering company while Radicon is a Saudi business with long-standing expertise in engineering. The merged entity Assystem Radicon combines Radicon’s knowledge of the market and expertise.
The acquisition of the 400-person Radicon based in Alkhobar and Riyadh enables Assystem to double the size of its footprint in the Gulf region, and gain market share in the infrastructure, energy and transportation sectors.
Dominique Louis, chairman of Assystem, said: “When Assystem first came to Saudi Arabia, we were looking for a strong, knowledgeable partner that would allow us to not only build on their own engineering offering, but also offer sophisticated solutions for complex engineering problems and prepare the Kingdom for the new age of nuclear energy. I am extremely pleased to say that we have found this important partner in Radicon.”
Ali K. Al-Harbi, founder of Radicon, added: “I believe the combination of local knowledge and international expertise is very powerful and will emerge a winning formula in a market that currently lacks a sophisticated mid-size offering in the engineering space.”
The Assystem-Radicon synergy is already registering early success with the win of a SR21 million joint tender from Saudi Arabia’s Ministry of Interior.
"This first significant contract won jointly by Assystem and Radicon demonstrates our complementary skills as well as the region’s development potential," said Stdphane Aubarbier, EVP, energy and infrastructure, Assystem.