The Saudi Cable Company (SCC) posted a net profit of 542,000 Saudi riyals ($145,000) for the fourth quarter of the year 2001. This marked an improvement in the company’s financial performance compared with a third-quarter loss of four million SR, according to the Bahrain-based TAIB Securities. SCC’s net profits plummeted 94 percent in year-end 2001
Founded in 1975, Saudi Arabia's first cables manufacturer evolved into the SCC Group, a network of companies providing a range of power and telecommunications services, including systems design, engineering, installation, network integration, project finance, and turnkey project management.
The Group's operations in Turkey include Demirer Kablo, which produces telecommunication metallic cables up to 220kV, and Kavel Kablo, which produces a range of power cables and fiber optic cables. Both plants export their products throughout the Middle East, North Africa and the CIS countries.
The Group holds a 50 percent equity stake in Bahrain-based Midal Cables, which uses molten aluminum direct from the ALBA smelter. The company also supplies overhead conductors and a range of aluminum conform extrusion products. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
