New company is a JV between Versatile and Chinese LED manufacturer Haneco
Versatile International, the Middle East’s first fully integrated stone project management consultancy, has announced the establishment of a new company to manufacture lighting technologies in Saudi Arabia.
Asheil Versatile Lighting Technologies is an end-to-end lighting manufacturer that also provides consultancy and planning services for large scale lighting installations. Asheil will serve destination-scale projects, including the Saudi giga-projects, and the local wholesale market.
The company’s operating model is designed to increase supply chain transparency, decrease risk and provide access to a comprehensive range of locally manufactured lighting products, a press statement indicated.
“Asheil aims to kindle a new lighting technology sector in Saudi Arabia and establish the Kingdom as a producer of world-class lighting technologies,” stated Marco Fahd, Group Chairman and CEO, Versatile Group and Co-Founder, Asheil.
In its first phase, Asheil is building a 5,000sqm manufacturing facility in Sudair City for Industry and Businesses, 120 km northwest of Riyadh. Ultimately the company plans to have 20,000sqm of factory space, manufacturing bespoke lighting installations tailored to the specific needs of Saudi Arabia’s biggest development projects.
China headquartered Haneco is an established manufacturer and provider of LED lighting solutions to global companies.