Arab Palestinian Investment Company (APIC) expands its operations in Palestine by entering into a strategic partnership with Rima Sanitary Paper Company by acquiring a 51% stake in the company
Ramallah- Ma’an- The Arab Palestinian Investment Company (APIC) announced the signing of a strategic partnership agreement with Rima Sanitary Paper Company, under which APIC will acquire a 51% stake in Rima. The agreement was signed by APIC Chairman and CEO Tarek Akkad, Rima shareholders Nabil and Omar Haj Abdul, Jadallah Jad Allah, and Al-Hour Investment Company represented by Lana Haj Abdul and Nadine Issa.
Al-Aqqad said that this acquisition is in line with APIC’s strategy to enhance its investments in Palestine with a focus on the manufacturing and consumer goods sectors. Al-Aqqad stressed that despite the harsh and difficult circumstances we are experiencing in Palestine due to the ongoing war on Gaza, this investment, at this particular time, confirms APIC’s firm commitment to supporting local industries and enh
ancing job opportunities in Palestine. It will also contribute to achieving added and qualitative value for APIC, its subsidiaries, its shareholders and the communities in which it operates.
Al-Aqqad pointed out that this investment represents the beginning of a promising partnership that is expected to contribute to achieving significant value for both parties, as APIC will work in cooperation with Rima’s current shareholders to strengthen the company’s institutional character and expand its business scope, especially by increasing its sales through APIC’s subsidiary Unipal, which is the leading and largest company in the field of distributing fast-moving consumer goods in Palestine through a wide-ranging network that includes more than 6,000 retail points of sale.
Al-Aqqad confirmed that the brand name ‘Reema’ will remain as it is, and that the current shareholders and managers of Reema will continue in their leadership positions, as they will be worked with in the next phase to enhance the company’s deve
lopment path.
Nabil Al-Hajj Abdul expressed his pride in signing this strategic partnership, stressing that the next phase will witness close cooperation with APIC’s management to guide the company’s development in line with its future vision and ambitions. He stressed that this cooperation will contribute to accelerating the company’s growth, expanding its presence locally and regionally, and enhancing innovation.
For his part, Jadallah Jadallah said that Rima Company, which was established in 1982, is the leading company in the manufacture of sanitary paper in Palestine, with a staff of more than 90 professional male and female employees in the fields of manufacturing, marketing, sales, distribution and other logistics services, and has a market share of about 40%.
APIC is an investment holding company and a public shareholding company listed on the Palestine Exchange (PEX: APIC). APIC’s investments are diversified across the manufacturing, trade, distribution and service sectors in Palestine, Jordan, Sa
udi Arabia, the UAE, Iraq and Turkey through its group of subsidiaries: Siniora Food Industries Company, National Aluminum and Profiles Company (NAPCO), Unipal General Trading Company, Palestine Automobile Company, Medical Supplies and Services Company, Sky Advertising, Public Relations and Event Management Company, Arab Leasing Company, Palestine Storage and Cooling Company, and employs more than 3,150 cadres in the group’s companies.
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Source: Maan News Agency
