ewpartners Announces $50 Million Strategic Investment in Leshines to Localize Manufacturing in the Middle East

RIYADH, Saudi Arabia, Nov. 5, 2024 /PRNewswire/ -- ewpartners (formerly eWTP Arabia Capital), the first international investment firm to establish a Saudi-Asia cross border platform, has announced a USD $50 million investment in Leshines, the supply chain solutions arm of Chinese multinational tech company Lenovo at The Future Investment Initiative (FII), a premier global platform that drives transformative investments and fosters international partnerships for sustainable economic growth.

The investment accelerates the localization of Leshines capabilities in Saudi Arabia, further strengthening the Kingdom's position as a vital player in sustainable global trade networks and supply chain operations.

Five months ago, Lenovo and PIF-backed company Alat announced a strategic collaboration, including a proposed US$2 billion investment. Today, this partnership is set to advance to the next step.

Leshines is also exploring the option of entering the KSA-Sino Logistics Special Economic Zone at King Salman International Airport in Riyadh, an initiative which was announced by the Saudi Ministry of Transport and Logistics earlier this month. Managed by ewpartners, the Zone will cover a total area of 4 square kilometres and consist of a logistics industrial park, an international commercial and business park, and corresponding living space and facilities. It will enable international companies to manufacture locally in Saudi and then springboard their distribution to other markets worldwide. It is expected to attract over 3,000 wholesalers and retailers and around 200 light industrial manufacturers from China and Asia.

Jerry Li, Founder and Managing Partner at ewpartners said the following on the announcement:

"This investment is a significant step towards building the future of Saudi Arabia that we all envision, and we are actively working to establish this goal. Our investment in Leshines underscores our commitment to this project and our determination to foster local industrial growth and the development of Saudi enterprises. By partnering with Leshines to bring advanced supply chain solutions to Saudi Arabia and the MENA markets, we further assist Chinese companies in exploring localized production and empower local enterprises, aligning with the Kingdom's Vision 2030."

Alan Zhou, COO of Leshines, commented on the announcement:

As Lenovo's smart supply chain solution platform, Leshines will take this opportunity to establish roots in Saudi Arabia, focusing on the MENA region, and build the foundational strategic capabilities of an advanced digital supply chain. As a globally leading strategic fund, ewpartners' strategic resources and unique advantages in KSA, the Middle East, and emerging markets perfectly match Leshines' strategic vision and development roadmap. With solid support and a strong partnership with ewpartners, we are confident that Saudi Arabia will become an important node in the Smart Supply Chain Platform, contributing to the Kingdom's Vision 2030.

The investment in Leshines marks the first transaction for ewpartners Fund II. Amid the growing synergy between China and the Middle East, ewpartners' investment model has garnered recognition from key stakeholders in the region. Supported by Saudi Arabia's sovereign wealth fund, ewpartners has also recently secured commitments from other GCC sovereign wealth funds, including USD 150 million from the Oman Investment Authority.

About ewpartners

ewpartners (formerly eWTP Arabia Capital) is an international investment firm specialising in cross-border investments between Asia and the MENA region. Backed by the Public Investment Fund (PIF), the firm has been active in Saudi Arabia since 2017 and was the first investment firm to launch a cross-border platform between the Kingdom and China.

Headquartered in Riyadh, ewpartners focuses on building value across borders by establishing strategic partnerships with exceptional companies. Our team's expertise in shaping innovative conducive policy frameworks can support governments in fostering economic transformation and diversification driven by innovation and technology.

ewpartners is committed to investing in, supporting, and growing successful businesses across the Asia and MENA regions, with a focus on key industries and themes such as digital infrastructure & solutions, advanced manufacturing & energy transition, and logistics & consumer enablement.

About Leshines:

Lenovo Group is a global tech giant. For three consecutive years, Lenovo has ranked among the top ten on Gartner's prestigious Top 25 supply chain list. As the strategic empowerment platform of Lenovo Global Supply Chain, Leshines is tasked with the important mission of driving supply chain transformation and upgrading through technological innovation. Drawing on Lenovo's global industry strengths and management expertise, Leshines delivers digital international supply chain solutions tailored to the evolving needs of Chinese manufacturers expanding overseas.

About the KSA-Sino Logistics Special Economic Zone

The Special Economic Zone is a collaboration between ewpartners and the King Salman International Airport Development Company (KSIADC) and was announced on 13^th of October 2024. The initiative is supported by the Ministry of Transport and Logistics and is one of several recently announced initiatives designed to strengthen supply chains and streamline trade, e-commerce and investment in line with the Kingdom's Vision 2030. The project aims to create an integrated ecosystem that will encompass global enterprises, logistic facilities, supply chains, and high-end manufacturing, significantly bolstering Saudi Arabia's regional and global distribution capabilities. International companies will establish manufacturing capabilities within the Zone and collaborate with Saudi enterprises to produce locally for distribution to markets around the world.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

ewpartners Announces $50 Million Strategic Investment in Leshines to Localize Manufacturing in the Middle East

ISTANBUL, Nov. 5, 2024 /PRNewswire/ -- Beko today announced it has been named a UiPath AI25 Award winner. recognizing its innovative use of AI and automation. The annual award program identifies the 25 most innovative UiPath customers using a combination of AI and automation as a strategic change enabler to accelerate bigger and bolder outcomes.

Beko has been utilizing RPA (Robotic Process Automation) technology since 2017, and it has become strategically crucial in the company's digital transformation and process digitalization efforts. In 2020, Beko further strengthened this commitment by investing in UiPath and establishing its own robot farm. To date, Beko has successfully automated 220 processes across its entire value chain and global operations, with 170 of those processes actively run by over 20 robots.

Beko's Digicrew Citizen Developer Program aims to enhance employees' digital capabilities, preparing them for the AI revolution through training in Data Analytics, Robotic Process Automation, and Low-code Application Development. The program has already up-skilled nearly 1000 employees, this year, DigiCrew will also expand to include Artificial Intelligence program.

Additionally, in 2023, Beko integrated AI-based Document Understanding technology with RPA to automate sales order and invoice management processes, resulting in cost and time savings. This innovation has improved the accuracy of document processing, even for non-standard documents. Looking ahead to 2024, Beko has also deployed the Test Suite on its B2C mobile applications to ensure consistent uptime and customer access, while conducting automated tests on company websites that collaborate with Beko for deals and campaigns.

Utku Barış Pazar, Chief Strategy and Digital Officer at Beko, said: "Winning the AI25 Award is a testament to Beko's commitment to leveraging AI and automation to drive innovation and efficiency across our global operations. With DigiCrew, we are amplifying the impact of digitization by upskilling our employees to automate their daily operational tasks. This initiative not only boosts individual productivity but also drives efficiency across our entire organization, empowering our workforce to embrace the future of work."

The UiPath AI25 Awards are designed to acknowledge customers using AI and automation to supercharge productivity; transform customer and employee experiences; deliver substantial return on investment; and support corporate, environmental, social, and governance (ESG) initiatives. Customers across the globe were invited to submit applications detailing how they have used AI and automation to redefine what's possible—not just in business, but in the way we work and live. The 25 winners were selected by a panel of expert judges for effectively articulating the business drivers, implementation, and results of their UiPath use case.

ABOUT BEKO  

Beko is an international home appliance company with 55,000 employees worldwide and global operations through its subsidiaries in 58 countries and 46 production facilities in 14 countries (i.e. Türkiye, UK, Italy, Romania, Slovakia, Poland, South Africa, Russia, Pakistan, India, Bangladesh, Thailand, China and Egypt). Beko has 22 brands owned or used with a limited license (Arçelik, Beko, Whirlpool*, Grundig, Hotpoint, Arctic, Ariston*, Leisure, Indesit, Blomberg, Defy, Dawlance, Hitachi*, Voltas Beko, Singer*, ElektraBregenz, Flavel, Bauknecht, Privileg, Altus, Ignis, Polar). Beko became the largest white goods company in Europe with its market share (based on volumes) and reached a consolidated turnover of 8 billion Euros in 2023. Beko's 31 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold more than 3,500 international registered patent applications to date. For the 5th consecutive year, the highest score in the DHP Household Durables industry (based on the results dated 27 October 2023) in the Dow Jones Sustainability Index of the S&P Global Corporate Sustainability Assessment was achieved.** Beko's vision is 'Respecting the World, Respected Worldwide.'  

 www.bekocorporate.com   

*Licensee limited to certain jurisdictions.   
**The data presented belongs to Arçelik A.Åž., a parent company of Beko.  

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Beko Wins Prestigious AI25 Award from UiPath for Innovative Use of AI and Automation