Riyadh – Sharikat Mubasher: Egypt-based Simplex, a company specializing in the manufacturing of CNC digital machines, announced raising $16 million in total following a recent $13 million funding round, all dedicated to establishing and operating the new factory in Saudi Arabia.
In an interview with Al Arabiya Business, Ahmed Shaaban, Simplex Chairman stated that the company currently exports 15% of its digital machine production to the Saudi market. However, it aims to shift this percentage into local production within Saudi Arabia and generate 50% of the company’s total revenues through direct manufacturing in the Kingdom while expanding exports to Gulf countries.
He explained that the company has been operating in Saudi Arabia for over a decade. Over the past two years, it has focused on expanding operations by opening branches in Riyadh, Jeddah, and Dammam.
The Saudi market, Shaaban noted, has a significant demand for such machines, with the Kingdom importing more than $400 million worth of this equipment annually.
Shabaan revealed that the new factory will not only cater to the Saudi market but will also focus on exporting to Gulf countries and India, further enhancing the company’s regional and international presence.
Shaaban highlighted the role of Saudi government support, particularly through the National Industrial Development and Logistics Program (NIDLP), which he said has significantly facilitated this step. He added that the move reflects the Kingdom's commitment to developing its local industrial sector and reducing reliance on imports.
Simplex specializes in manufacturing laser machines and CNC cutting machines that use computer systems for 3D and 4D engraving and cutting.
According to Shaaban, this technology is widely utilized across various industries, including metal and household furniture manufacturing, home appliances, advertising and marketing, film production, cable and metal structure industries, as well as the production of transformers and electrical panels. He emphasized that these industries represent the largest demand for the machines produced by Simplex.