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Sunday, March 21 - 2010

Zamil Industrial Investment Company supports and participates in Al Ain Dialogue

  • Saudi Arabia: Sunday, December 10 - 2006 at 15:04
  • PRESS RELEASE

Zamil Industrial Investment Company (ZIIC), an international manufacturing and fabrication group focused on growth segments of the global construction industry, is supporting and participating in the Al Ain Dialogue, which takes place in the United Arab Emirates from 11-13 December.

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  • Abdulla Al Zamil.
    Abdulla Al Zamil.
Organized by the Gulf Society for Organizational Learning (Gulf SoL) and driven by Saudi Aramco, the event will discuss and explore ways to create and implement measures to achieve meaningful sustainable development. This is increasingly being seen by many as key to continuing economic diversification efforts and to tackling economic and social challenges in the region.

Abdulla Mohammed Al Zamil, ZIIC Board Director and Chief Operating Officer, will participate in a session titled 'Promoting local innovation - regional experiments to enable research and business incubation'. During this session he will share his perspectives on this issue and draw upon his expertise in context of the activities taking place throughout ZIIC.

"The Gulf States currently enjoy a healthy economic climate and this provides a solid foundation upon which we can make great strides to further diversify our economies. It is my hope that through participation in such dialogues we can help to effect meaningful, long-term economic, social and environmental health for our region,"


said Abdulla Al Zamil.

"I am pleased to participate in this important dialogue as a representative from ZIIC as its aims reflect what we are working to achieve within our group. We are committed to creating new sources of revenue and growth, investing in new infrastructure and in human resource capabilities so that our ongoing development activities assure the best possible future opportunities for those in the communities of the region."

The purpose of Gulf SoL is to promote the interdependent development of people and their institutions. Its members, such as ZIIC, engage in collaborative projects around areas of regional and global interest, including cross-sector collaboration, education and youth leader development, knowledge and innovation, leadership, job creation, and sustainable economic development.

Saudi Aramco - as a major oil and gas enterprise with global reach - works towards positively influencing many aspects of life domestically and internationally. Its support of the Gulf SoL dialogue is an example of how Saudi Aramco engages with leaders to cooperate and collaborate on ways to create and enhance opportunities for society. This is in addition to its work in the areas of environmental and ecosystem protection, community outreach programs, education and job creation, and its contribution to the local economy where downstream industries can gain competitive strengths through Saudi Aramco's competitively priced products.

"Gulf SoL is grateful for the support of Saudi Aramco and ZIIC as platinum and gold sponsors of this dialogue and as participants. The active collaboration among our members enables us to promote our three core activities - to explore core questions through dialogue, to expand and deepen connections across the SoL community, and to build the internal capability of our membership through the application and practice of organizational learning principles,' added Abdulhaiy Nazir, chairman of the Gulf SoL organizing committee.

"As an innovative, forward thinking and successful entity, ZIIC is a major contributor through its support and its recognition of its role in the broader social community."

The Al Ain Dialogue will be attended by leading figures from across the region, including corporate CEOs, local business owners, academics, and other thought leaders. It will be facilitated by Dr. Peter Senge, renowned business strategist and architect of the learning organization, with keynote presentations by local leaders, including HRH Prince Sultan bin Salman, Eng. Salim Al-Aydh, Mohammed Al-Fahim, and Dr. Nahed Taher.
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About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 6,500 people in 55 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, architectural glass processing and fiberglass insulation solutions to meet the requirements of the global construction industry through its four sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com), Zamil Glass Industries (www.zamilglass.com) and Arabian Fiberglass Insulation Co. Ltd. (www.afico.com.sa).

During the first nine months of 2006 net profit after Zakat contributions were SAR 154.7 million/USD 41.3 million, an increase of 76% over the same period in 2005. Total turnover was SAR 2.11 billion/USD 563.6 million, representing a 15.2% growth. Shareholders' Equity also increased by 24.3% to SAR 709.4 million/USD 189.2 million. While Post Zakat Earnings Per Share as at end of September 2006 grew to SAR 3.44/USD 0.92. Total exports amounted to SAR 778.1 million/USD 207.5 million, representing 37% of turnover.

For the year ended 31 December 2005, ZIIC posted turnover of SAR 2.4 billion/USD 631.9 million, a growth of 20.5% over 2004, with net profit, after Zakat contribution, of SAR 106.4 million/USD 28.4 million. Post Zakat Earnings Per Share also grew by 51.6% to SAR 15.19/USD 4.05, up from SAR 10.02/USD 2.67 during the same period in 2004. Shareholders' equity grew by 18.7% to SAR 587.5 million/USD 156.7 million. Export sales accounted for SAR 934 million/USD 249 million representing 39% of total revenues and 5% growth over 2004. ZIIC exports to more than 80 international markets.

ZIIC shares are actively traded on the Saudi Stock Market.

About Gulf SoL (Gulf Society for Organizational Learning)
Gulf SoL is a regional network of consultants, researchers, and practitioners committed to building capacity for fundamental innovation and change in organizations in the Gulf region. Gulf SoL builds networks through communities, organizations, and individuals to form a world-wide collaborative learning community.

Gulf SoL is a partner of the Society for Organizational Learning (SoL), a nonprofit global network of learning communities. SoL was founded in 1997 as an outgrowth of the MIT Center for Organizational Learning, founded by Dr. Peter Senge, author of The Fifth Discipline: The Art and Practice of the Learning Organization. Dr. Senge remains SoL's founding chairman. More information can be found at www.gulfsol.org

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