A corporate liaison office opens for business in Beirut, Lebanon, to facilitate a major transportation contract with Aminoil/Getty Oil in the Saudi Arabia-Kuwait Neutral Zone. It is the Group’s first non-Gulf office.

The Group establishes its first company outside of the Middle East - an investment portfolio in U.S. equities.

General Contracting Company establishes a branch for heavy automotive equipment and parts. GCC becomes exclusive distributor of Cummins engines, Kenworth trucks and Atlas Copco compressors – relationships that endure today.

Olayan enters into an agreement with Kimberly-Clark to construct the first tissue converting plant in Saudi Arabia.

The Group’s joint venture company with Bechtel is given the contract for the engineering and project management of Jubail Industrial City.

The Group acquires a more than 5% equity holding in Donaldson, Lufkin & Jenrette (later increasing to nearly 25% before being sold to Equitable Life in 1985). The move establishes the Group’s long-term international approach, involving substantial minority stakes in a highly selective core group of companies.

The Group opens an office in London.

Olayan Investments Company Establishment (OICE), which will become
the Group's parent company, is established.

The Group acquires a significant stake in First Chicago Corp.

The Group acquires a significant stake in Occidental Petroleum Corp.

The Group establishes a company to sell Xerox equipment in the Kingdom.

The Group acquires a 5.3% stake in Transamerica Corp.

An agreement with The Coca-Cola Company establishes the Saudi franchise for Coca-Cola products and services.

The Group purchases a substantial ownership interest in CS First Boston. (By 1998 this will become a 5% stake in Credit Suisse Group.)

The Group enters into a joint venture with Colgate-Palmolive covering the entire Arabian Gulf region.

The Group enters into an exclusive arrangement with Burger King Restaurants for large areas of the Middle East. Olayan Food Services Company soon opens the first Burger King restaurant in Riyadh.

The Group aquires a 5.3% stake in Chase Manhattan Corp.

The Coca-Cola Bottling Company of Saudi Arabia establishes its first of three bottling plants in the Kingdom.

The Group acquires a 12% economic interest in Britain's National Grid.

The Group marks its 50th Anniversary.

Suliman S. Olayan's biography, From 'Unayzah to Wall Street,
is published.

Following the passing of founding Chairman Suliman S. Olayan on July 4 at age 83, Khaled S. Olayan is named Group Chairman.

The American University of Beirut names its School of Business for Suliman S. Olayan.

The Group marks its 60th anniversary.