Cairo 30 Jan 2025:
Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million, as part of Saudi efforts to support and localize advanced industries within the Kingdom.
Simplex will use the fund to open a huge factory which set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, will be dedicated to producing advanced CNC machines.
Simplex signed a Memorandum of Understanding with Saudi Arabia’s National Industrial Development Centre to establish the company’s first factory within the Kingdom of Saudi Arabia.
The announcement was made during a signing ceremony attended by Eng. Ahmed Shaaban, Chairman of Simplex CNC, and Eng. Khalil ibn Salamah, Vice Minister of Industry and Mineral Resources in Saudi Arabia, along with several key officials from both sides.
Commenting on this achievement, Eng. Ahmed Shaaban, Chairman of Simplex, said, “We are grateful for the significant support provided by the Saudi National Industrial Development Center, which reflects the Kingdom’s commitment to enhancing the industrial sector and localizing advanced technology. This factory represents a major step towards realizing our vision of expanding in regional and global markets and increasing our exports of CNC machines.”
Shaaban added, “Although we have not yet finalized the target production capacity, we plan to start operating the factory in the first quarter of 2026. This project reflects our commitment to contributing to the development of the Saudi industrial sector, in line with the Kingdom’s Vision 2030.”
Mansour added, “Our vision is to become a key player in the global CNC machine manufacturing industry. This factory is a significant step towards achieving that vision. We are working on developing innovative products that meet the needs of customers in various industrial sectors, and we hope that this factory will contribute to enhancing the Kingdom’s position as a regional industrial center and increasing its exports of advanced technological products.”
The opening of the new factory in Riyadh comes as part of Simplex’s commitment to supporting Saudi Vision 2030, which aims to diversify the national economy and localize advanced industries. Through this project, the company contributes to strengthening the Kingdom’s industrial capabilities, creating new job opportunities, and supporting non-oil exports.
Simplex CNC was founded as a startup specializing in CNC machine manufacturing, widely used in manufacturing and process industries. The company is distinguished by providing advanced technological solutions that meet the needs of customers in various industrial sectors. It has successfully built a strong reputation in regional and global markets, with Simplex machines being the preferred choice for customers in more than 50 sectors across 21 countries worldwide.
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