Merieux NutriSciences Corporation announced today that it has acquired an equity position in Inspection, Diagnosis and Analysis Lab Company (IDAC), a market leader for food testing services in the Kingdom of Saudi Arabia. Pending approval from the Saudi Arabian General Investment Authority (SAGIA), the joint venture will ultimately operate under the new brand name "IDAC Silliker” and grow its service portfolio to meet rising demand from clients that face increased challenges in food safety and quality. Silliker is the Food safety division of Merieux NutriSciences. A signing ceremony had taken place Wednesday at Alfaisalyyah Hotel in Riyadh attended by the French Ambassador, the US Commercial attaché and many executives from government and the Food Industry in Saudi Arabia. Together IDAC and Merieux NutriSciences will develop, around the current analytical capabilities of IDAC, a comprehensive range of solutions for clients in the food industry. Founded in 2003 and located in Riyadh, IDAC is privately-held by the Saudi firm, Arabian Agricultural Services Company (Arasco). IDAC operates a 30 000m² site, performing over 1 600 different tests in 13 specialized laboratories. It is well rooted locally with the nationally recognized Certificate of Accreditation from the Saudi Ministry of Agriculture, and the Certificate of accreditation from the Saudi Ministry of Commerce and Industry. Moreover, IDAC is the only laboratory in the region to comply with internationally recognized accreditations such as IAS ISO 17025, SAC ISO 17025 and ISO 9001. “This joint venture investment is in line with our strategic goal to further spread our expertise and know-how, and offer a global qualitative service to our customers. Our trusted relationship with IDAC provides the solid foundation for Merieux NutriSciences' extension into the Middle East. Merieux NutriSciences will bring all its expertise and support to strengthen the already very dynamic IDAC,” stated Philippe Sans, President and CEO of Merieux NutriSciences. “Like Merieux NutriSciences, IDAC is committed to operational distinction and to exceeding the expectations of its valued customers. This JV will transform IDAC from a standard laboratory business into a provider of Value-Added Solutions. “IDAC Silliker will provide the full range of Testing, Inspection and Certification services to manufacturers, retailers and restaurants. IDAC Silliker will become an important player in the food industry in Saudi Arabia that further enables the production of high quality, safe food. We are proud to partner with Merieux NutriSciences, a recognized leader in its field. After an extensive period of evaluating a potential partnership, we concluded that our shared values of excellence and integrity, and dedication to providing innovative, comprehensive and integrated solutions to customers were in complete alignment,” said Haitham Altraif, President of IDAC. – SG
