Lenovo to set up regional headquarters in Saudi Arabia

[Lenovo office building in Nanshan area]
LewisTsePuiLung/iStock Editorial via Getty Images

Lenovo (OTCPK:LNVGY [https://seekingalpha.com/symbol/LNVGY]) (OTCPK:LNVGF [https://seekingalpha.com/symbol/LNVGF]) said it is planning to set up a regional headquarters in Riyadh, Saudi Arabia.

The Chinese personal computer maker noted [https://news.lenovo.com/pressroom/press-releases/lenovo-strengthens-strategic-commitment-to-the-kingdom-of-saudi-arabia-with-senior-leadership-appointments-and-regional-headquarters-in-riyadh/] that the headquarters highlights its commitment to supporting Saudi Arabia’s Vision 2030 and advancing the Kingdom’s digital transformation and economic diversification agenda.

The announcement forms part of Lenovo’s strategic collaboration with ALAT, a public investment fund-owned company, aimed at boosting Lenovo’s transformation and expanding its global manufacturing footprint, according to the company.

Lenovo and ALAT broke ground in February on an advanced manufacturing facility in the 'Riyadh Integrated' area of the city that is expected to begin producing millions of “Saudi Made” devices by 2026.

In addition, Lenovo said it has appointed company veteran Lawrence Yu as head of the regional headquarters, while Giovanni Di Filippo has been appointed as vice president and general manager for Lenovo Saudi Arabia. Zoran Radumilo has been appointed as the chief technology officer for Lenovo Saudi Arabia.

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