Heisco completes full acquisition of Saudi Gulf Sky Factory

Kuwait's Heavy Engineering Industries & Shipbuilding (Heisco) has acquired the remaining 25pct stake in Gulf Sky Factory, a pressure vessel manufacturer in Jubail, Saudi Arabia, for about USD 4.5 mln, completing full ownership, the company said in a stock exchange filing.

Formerly known as Kuwait Shipbuilding & Repair Yard Co., Heisco was established in 1974 and rebranded in 2003 as a leading EPC contractor in Kuwait. Its operations span shipyard services, oil and gas construction, industrial maintenance, fabrication, trading, galvanizing, and scaffolding.