Arab Palestinian Investment Company is a Palestinian–Jordanian company headquartered in Ramallah, Palestine. It was founded in September 1994 by several Arab businessmen to channel investment into Palestine.[1] Since its founding, APIC has become one of the largest operators in Palestine, employing over 3000 employees. Subsidiaries of APIC offer a wide array of products and services through distribution rights agreements with multinational companies that include Philip Morris, Procter & Gamble, Kellogg's, Hyundai, Chrysler, Dodge, Jeep, Alfa Romeo, Fiat, Fiat Professional, XL Energy, Abbott, B. Braun, Eli Lilly, GlaxoSmithKline, Sanofi Aventis and Nivea, among many others.[2] APIC is located in Amman, Jordan and Ramallah, Palestine.[3]
| Company type | public |
|---|---|
| Industry | holding company |
| Founded | September 1994 |
| Headquarters | Amman , Jordan |
Area served | Palestine, Jordan, Saudi Arabia |
Key people | Tarek Aggad (Chairman and CEO) Omar Aggad (founder) |
APIC was registered in the British Virgin Islands in September 1994. In 1996, it was registered with Palestine's Ministry of National Economy as a foreign private shareholding company, and became into a foreign public shareholding company in 2013.[4][5] In March 2014, APIC shares were listed on the Palestine Exchange (PEX: APIC).[6] Its authorized capital is US$125 million, and its paid-up capital is US$112 million as of December 2022.[1][7]
As an investment holding company, APIC's investments are diverse, spanning across the manufacturing,[8] trade, distribution and service sectors, with a presence in Palestine, Jordan, Saudi Arabia and the United Arab Emirates through its nine subsidiaries, which include National Aluminum and Profiles Company (NAPCO); Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; Sky Advertising and Promotion Company; Arab Leasing Company; and the Arab Palestinian Storage and Cooling Company..[1]
References
edit- ^ a b c "About APIC The Arab Palestinian Investment Company (APIC)". APIC. Archived from the original on 31 May 2016. Retrieved 11 April 2016.
- ^ "APIC Home Page". APIC. Archived from the original on 30 July 2018. Retrieved 4 May 2016.
- ^ "Arab Palestinian Investment Company | Zawya". zawya.com. Retrieved 10 September 2016.
- ^ "Investcorp Bank B.S.C.: Board of Directors - Businessweek". Bloomberg. Retrieved 4 May 2016.
- ^ Kirdar, Nemir (13 September 2012). In Pursuit of Fulfilment. ISBN 9780297869511. Retrieved 4 May 2016.
- ^ "AICO Home Page". AICO. Retrieved 4 May 2016.
- ^ Blau, Uri; Dolev, Daniel (7 April 2016). "Panama Papers: Leaks Reveal Abbas' Son's $1m Holding in Company With Ties to Palestinian Authority". Haaretz. Retrieved 11 April 2016.
- ^ Seib, Gerald (1986). Facing the Recession In Saudi Arabia Taxes A Businessman's Skills; Omar Aggad Slashes Costs, Ponders Diversification (1st ed.). ISBN 0879519711.