The US-based Lennox Heating & Cooling company recently announced that it is considering relocating its Middle East and North Africa headquarters from Dubai to Riyadh, reported Al-Sharq Al-Awsat newspaper.
Sources at Lennox asserted that if the company’s representative agent in Saudi Arabia succeeds in capturing 20 percent of the Saudi central air-conditioning market, Lennox would relocate its headquarters to Riyadh.
Osama Al-Issa, Director General of the Hamad Bin Abdullah Al-Issa Company, the Lennox representative in Saudi Arabia, stated that his company is capable of achieving the targeted share of the Saudi air-conditioning market. Based on the company’s 25-year long experience, he expects the goal to be met within three to four years.
According to the report, market sources estimate that the current value of the Saudi air-conditioning market totals one billion Saudi riyals. Of this figure, central air-conditioners constitute 25 percent, equivalent to SR 250 million. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
