Shuaiba Industrial Company is listed in the Kuwait Stock Exchange, and has a paid-up capital of Kuwaiti Dinars (KD) 5.57 m (approx USD 19.2m) and a market capitalization of KD 14m (approx USD 48 m). SIC has been going strong in the paper bags business, for the past 29 years and is rated as one of the largest paper bags/sacks producer in the Middle East and North Africa (MENA) region. At present, the customer base is spread over more than 26 countries, with these exports accounting for almost 50 % of total sales, which is in line with the management’s objectives to maintain SIC’s share in the global markets in spite of tough competition.

 

SIC has joined hands with Yanbu Cement Co (YCC), one of the largest cement plants in Kingdom of Saudi Arabia in a Joint Venture, formed a new company Yanbu Saudi Kuwaiti Paper Products Company Ltd. , with similar multiwall paper sack manufacturing plant for cement & related products. The installed capacity of the plant utilizing the state of the art W&H machines from Germany is 60 million bags per annum.