Riyadh - For the second consecutive year, Construction Products Holding Company (CPC) was selected as one of the top 100 fastest growing companies in Saudi Arabia in 2010. The announcement was made at the Global Competitiveness Forum, which concluded recently in Riyadh.

CPC was ranked the 7^th in the Emerging Companies category, under which 30 other companies were listed.

Engineer Walid Samaha, Chief Operating Officer of Construction Products Holding Company, travelled to Riyadh to receive the award from His Excellency Mr. Amr Al-Dabbagh, Governor of the Saudi General Investment Authority (SAGIA) and attended the ceremonies.

On this special occasion, Dr. Faysal Alaquil, Director of Business Development and official spokesman of CPC, expressed the Company's pride for this recognition, which highlights the successes achieved by the company since its inception in 2005. This underscores the general framework of SAGIA’s mission to create the appropriate environment for companies to do their works, as well as encourage investment companies in Saudi Arabia to continue to exert their utmost efforts to achieve the successes that Saudi society aspires to.

He said: " With CPC among the 100 fastest growing companies in Saudi Arabia for the second year in a row, it confirms that the company has adopted the right business model, providing the industry with a comprehensive range of construction materials and services in one center; and to secure all building materials to the Saudi market through its network of industrial complexes throughout the kingdom. The recognition is also a positive affirmation of the approach we have taken to the growth of the business, and to expand our work both within the Kingdom and beyond, and in a tactical manner to ensure the achievement of our desired objectives."

CPC was founded in 2005 with as a closed joint stock company. Since then, it has achieved a growth rate of 142 percent over five years, and recently increased its capital to SR1 billion, and has established twenty seven subsidiaries in various business fields. Currently CPC works in Syria, Egypt, United Arab Emirates, and Senegal; it soon will enter the Algerian, Indian and Qatari markets.

Organizers of the Competitiveness Forum say the selection of the top 100 fastest growing companies in Saudi Arabia for this year was based on the companies’ ability to meet the challenges of economy, and to provide opportunities that will empower businessmen and businesswomen in Saudi Arabia.

They further point out that the list of the top 100 fastest growing companies for 2010 reflects a new approach to do business in Saudi Arabia, and stresses on the capability of success of small and mid-sized projects which are run by creative and open minds. It also emphasizes the ability to overcome the financial crises currently being faced by many companies worldwide.