Beyon has signed a strategic partnership with Mazad, Bahrain’s leading auction services provider, enabling Beyon to sustainably dispose of surplus equipment and e-assets that are no longer in use.
Both Beyon and Mazad are portfolio companies of Bahrain Mumtalakat Holding Company (Mumtalakat). This aligns with Mumtalakat’s objectives of fostering cooperation among its local portfolio companies.
Beyon’s Chief Communications and Sustainability Officer, Mr. Shaikh Bader bin Rashid Al Khalifa commented that, “This strategic partnership is in line with our commitment to sustainable practices at Beyon, with one of our key focus areas being on promoting a circular economy approach. Mazad, through its auction platform, drives a circular economy environment by selling equipment to extend its life cycle, thereby reducing waste to a minimum and ensuring that such assets are kept in economically valuable loops, rather than have them discarded as waste in landfills.”
“One of our values at Beyon is ‘Care Beyond Now’ which reflects our ambition to integrate sustainability within our daily operations and practices. Sustainability has become a priority and we aspire through our business operations to protect the environment,” Mr. Al Khalifa added.
Mazad Chief Executive Officer, Mr. Talal Aref Al Araifi said that, “We are pleased to have partnered with Beyon to sustainably dispose of surplus equipment and e-assets. This partnership further diversifies our asset-sale portfolio and reflects our underlying commitment in the market to promote the principles of transparency, fairness, and competitiveness across key sectors in the Kingdom.”
“At Mazad, we continue to work towards providing the most suitable solutions for asset sales and disposal, and in line with our Shareholder’s strategy we are committed to helping the Kingdom realize its national goals in order to achieve a sustainable national economy,” Mr. Al Araifi further noted.