SPIMACO SIGNS AN AGENCY AGREEMENT

IN MALAYSIA

Under the auspices of H.E. Minister of Health in Malaysia and the presence of  Saudi Ambassador , Saudi Pharmaceutical Industries and Medical Appliances corporation "SPIMACO"  has signed  an agency agreement with the Malaysian Schmidt BioMedTech Sdn. Bhd.. According to this agreement, Schmidt will distribute and market all SPIMACO products, which are registered at Malaysian Ministry of Health. Dr. Abdullah Al- Abdulkader the Managing Director of SPIMACO who signed the agreement stated that this agreement comes within a long-term plan to expansion in international markets. This direction to expansion occurs after establishing strong foundations, achieving the lead among the national companies and becoming tough competitor to all multinational companies operating in Saudi Arabia. He said also that the number of SPIMACO products totaled 200 of all pharmaceutical forms.

He added, the markets of southeastern Asia are growing remarkably and Malaysia represents the corner stone for SPIMACO for the following reasons:

1-   The Malaysian market is mature and accepts the high quality products.

2-   Malaysia is considered the starting point to the rest of countries in the region.

3-   Saudi Arabia has strong relations with Malaysia which facilitate the inter-commerce between the two friendly countries.

4-   SPIMACO wishes to acquire the Malaysian expertise through contact with its active corporations in the field of medicine manufacturing and trade.