According to the contract, Zamil CoolCare will provide complete maintenance and repair services to Saudi Electricity Company's eastern province substations, spanning several departments and covering a broad range of unit types, brands and capacities, ranging from room air conditioners to high-tonnage chillers.
"We are extremely pleased that Zamil CoolCare has prevailed over tough, major market-wide competition to win this contract. We can undoubtedly attribute the win, at least in part, to our outstanding performance at other Saudi Electricity Company facilities. We look forward to providing the same high quality HVAC services to the SEC Eastern Province substations as we have at SEC's other regional locations", said Osama Bunyan, Executive Vice President, Zamil Air Conditioners.
The recently signed contract represents the latest in a series of agreements between the two companies. Previous contracts with SEC, which totaled SAR 87 million (USD 23.2 million), called for the provision of maintenance, repair and other services, as well as supplying various air conditioning systems to SEC facilities around the kingdom.
"SEC is pleased to announce the expansion of its affiliation with Zamil CoolCare. Based on the excellent support delivered by the company pursuant to past contracts, we look forward to a long and beneficial association with this trusted HVAC services partner," stated Dr. Ibrahim Al-Hamoudi, Executive Vice President, Transmission Area, SEC.
In response to growing regional demand for quality HVAC maintenance, repair and other services, Zamil CoolCare expanded its regional network of offices and service and parts centers, and has become the leading HVAC services company in the region.
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Zamil CoolCare secures Saudi Electricity Company
- Saudi Arabia: Sunday, September 16 - 2007 at 14:06
- PRESS RELEASE
Zamil CoolCare, the regional leader in providing after sales services to the HVAC industry, has signed an agreement worth SAR 21.5 million (USD 5.8 million) with Saudi Electric Company (SEC) to service and maintain HVAC equipment at the transmission and substation facilities in the Eastern Province of Saudi Arabia.
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About Zamil Air Conditioners (www.zamilac.com)Zamil Air Conditioners (ZAC) was founded in 1974 as one of the first air conditioning business to be established in Saudi Arabia and today is a leading international manufacturer of air conditioning systems and is Number 1 in the Middle East. It designs, manufactures, tests, markets and services a comprehensive range of air conditioning products, from compact room air conditioners and mini splits to large scale central air conditioners, chillers and air handling units for highly specialized commercial and industrial applications. These products and services are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech, Kessler Clima Tech and Geoclima - depending on specific markets. ZAC's factories are located in Dammam, Saudi Arabia and Italy.
ZAC is also involved in the production of branded air conditioners for several leading international manufacturers under Original Equipment Manufacturer (OEM) agreements. It operates a joint venture between Zamil Industrial Investment Company (ZIIC) and General Electric, called Middle East Air Conditioners Ltd. (MEAC).
ZAC has been vigorously moving into newer markets, seeking strategic alliances and investing heavily in R&D.
ZAC 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 7,400 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, aerated concrete products 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).
For the year ended 31 December 2006, ZIIC posted turnover of SAR 2.87 billion/USD 764.7 million, a growth of 21% over 2005, with net profit, after Zakat contribution, of SAR 191.7 million/USD 51.1 million. Post Zakat Earnings Per Share during 2006 grew to SAR 4.26/USD 1.14 from SAR 2.36/USD 0.63 representing 80.2 percent growth. Shareholders' equity grew by 26.2% to SAR 741.5 million/USD 197.7 million. Export sales accounted for SAR 1105.6 million/USD 294.8 million representing 39% of total revenues and 18.4% growth over 2005. 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
Issued on behalf of Zamil Industrial Investment Company by Hill & Knowlton. For more information contact Samil Amin on
Tel: +973 17 533532,
Fax: +973 17 533370
Posted by Lara Lynn Golden, News EditorSunday, September 16 - 2007 at 14:06 UAE local time (GMT+4)
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