Saudi businessman and Chairman of the board of Directors of the Saudi American Bank, Abdul Aziz Al-Gosaibi, died yesterday after a prolonged illness at the age of 82. He is survived by his son and prominent businessman Saud Al-Gosaibi and daughters.
Al-Gosaibi had diverse business interests in the hotel industry, shipping, airline industry and soft drink bottling. His group, Hamad Al-Gosaibi and Bros, was established in the 1940's. Following the entrepreneurship of his late father in money exchange and a confectionary shop, Al-Gosaibi and his two brothers expanded to include many diversified portfolios of business ventures and activities.
In industry, the company was involved in the venture for building a soft drinks bottling factory for Pepsi Cola products in the mid 1950's and beverage cans in the 1980's. It was also a co-founder of the first power station and the first cement factory in the Eastern province.
Al-Gosaibi began his career as an accountant at King Abdul Aziz Seaport and later moved to Saudi Aramco before joining his father, Hamad Al-Gosaibi. He was also active in cultural and philanthropic activities in the region. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
