The enormous potential of the UAE market makes the new facility one of the most important steps ZS has taken in its global expansion initiative. The total investment in this new plant is SAR 175 million (USD 46.7 million).
"Our national sales have been rising steadily over the past few years, increasing by more than 40%. Specifically, our pre-engineered steel buildings (PEB) sales have reached their highest point ever, which has allowed us to maintain our grip of the PEB market in the GCC countries. These factors, among others, have encouraged us to continue implementing our global expansion strategy," said Adnan Al-Mansour, President, Zamil Steel.
According to Ibrahim Al Solaia, Vice President Project, Zamil Steel, the construction of the new plant at Ras Al Khaimah began in early January of this year. The first phase of the new facility is almost completed and manufacturing in small scale has started and is on track for full operations by the end of the first quarter of 2007. The plant will be capable of producing 40,000 metric tons per annum of pre-engineered steel buildings, open web steel joists and floor decking. The second phase of the factory, scheduled to be operational by the end of 2007, will add an additional 12,000 metric tons per year of steel lattice towers.
The new facility will be equipped with the latest and most advanced technology available. Complete technical, engineering and administrative departments will be available to meet customer requirements in a comprehensive manner. The new plant will be also integrated into the Zamil Industrial Investment Company's (ZIIC) IT network, streamlining the production and delivery processes of the finest quality steel products.
"ZS RAK will mainly serve the UAE market, as well as neighboring Gulf countries. It is a crucial addition to our international network of manufacturing facilities and will help us continue to meet the demands of our customers with the same level of quality and dependability they have come to expect from us," concluded Adnan Al Mansour.
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Zamil Steel Plant in Ras Al Khaimah starts operations
- United Arab Emirates: Sunday, December 24 - 2006 at 11:34
- PRESS RELEASE
The new Zamil Steel (ZS) factory in Ras Al Khaimah, UAE recently started producing on a small scale while pressing forward with the completion of the facilities.
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About Zamil Steel Industries:Founded in 1977, Zamil Steel (ZS) is a global leader in the manufacture of pre-engineered steel buildings and the Middle East's premier supplier of structural steel products and process equipment, transmission and telecommunications towers. Zamil steel operates a joint venture between Zamil Industrial Investment Company and Steel Plus, a subsidiary of Canam Group, Canada, to design and fabricate open web steel joists and floor decks.
ZS manufactures a total 250,000 MT of fabricated steel per annum of low rise and high rise steel buildings and structures for diverse industrial, commercial, agriculture, aviation, entertainment and military applications and support of infrastructure and development projects. Zamil Steel's products are sold in more than 80 countries through an international network of dedicated sales and representative offices, certified builders, agents and distributors.
Zamil Steel's main factories are based in Dammam, Saudi Arabia. Additional factories are located in Egypt and Vietnam. More than 500 engineers are employed in its engineering departments in Saudi Arabia, Jordan, Egypt, Vietnam and India.
ZSI is one of four sector businesses of Zamil Industrial Investment Company.
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. More information can be found at www.ziic.com.
For more information on this press release, contact Said Al-Daajani, Zamil Industrial Investment Company, Corporate Communications, Tel: (966) 3 8471840, Fax: (966) 3 8472574
or
Jamil Alsharif on Tel: +973 17 533532, Fax: +973 17 533370
Posted by Janeta Novakovic, Assistant News EditorSunday, December 24 - 2006 at 11:34 UAE local time (GMT+4)
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This article was updated on Tue May 01 2007.
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