JPF inks agreement to utilise printing press

AMMAN — The Jordan Press Foundation (JPF)/Al Rai and the Saeed Abbasi and Partners Company for Printing and Technical Services (Al Noor Printing Press) on Tuesday signed an agreement to establish a company to invest, operate and administrate the commercial printing press at the JPF’s headquarters. 

JPF Chairman Ayman Majali and Al Noor Printing Press General Manager Muhammad Abbasi signed the agreement on behalf of their respective institutions in the presence of JPF Director General Farid Silwani.

Under the agreement, the new company will begin operations at the start of next year. 

Under the deal, the JPF will own 49 per cent of the company’s shares, and will rent Al Rai Commercial Press as well as part of the building owned by the JPF.

Following the signing ceremony, Majali said that the rights of the press’ employees are guaranteed and the employees, who have gained experience through their work at the foundation, will continue to be part of the JPF.

As for the printing press complex, the chairman noted that part of it will be rented to the new company while other sections will be maintained for JPF use only. 

Abbasi said that the agreement would serve the interests of both sides through the modern capabilities of Al Rai’s printing press complex and boost Al Noor Company’s field experience. 

Establishing “Noor Al Rai”, the suggested name for the new company, could open new markets while increasing opportunities in local and neighbouring markets, Abbasi added.

For his part, Silwani stressed that the agreement is part of the board of directors’ plan to reduce expenditures and ensure the best utilisation of the JPF printing press so as to generate profits for Al Rai shareholders.