"The Madinah area is one of the fastest-growing regions for the construction industry in the Kingdom of Saudi Arabia," said Abdulla Mohammed Al Zamil, Senior Vice President, ZAC. "Projections indicate the need to develop approximately 514 lots into mostly 10 to 12-storey residential and commercial buildings over the next 10 years."
He added that a major driver for growth is the development of the area around Al Haram Al Shareef to support the expanding needs of an increasing number of pilgrims.
"For this reason we have established full service and support facilities to support the tremendous opportunities which will undoubtedly be presented over at least the next decade. We see this as an important part of our business development strategy.
"National demographics and an increasing population are also having a pronounced effect. Some 42% of the population - which is growing at a rate of 3.27% per year - is aged under 14, and this can only mean one thing: considerable sustained demand for additional housing, schools and hospitals and other construction projects, which will all require air conditioning systems," he added, noting that the expansion will also ultimately contribute to the absorption of Saudi nationals into the workforce."
A number of ZAC's air conditioning manufacturing assembly lines in its Dammam facilities are already manned by a majority of Saudi nationals as part of the company's determination to achieve self-established Saudization targets. Its efforts to date include a bi-annual intake of Saudi trainees since 1996, 'on-the-job' training programmes fully accredited by the General Organization for Technical Evaluation and Vocational Training (GATEPOST), and its partnership with the Riyadh-based Human Resource Development Fund (HRDF), which provides specific job skills and competencies training.
The establishment of ZAC's new presence in Madinah was celebrated at an event held in Madinah yesterday. Attended by Abdulla Mohammed Al-Zamil, it included a seminar during which ZAC provided the audience with its corporate overview as well as that of its parent company, Zamil Industrial Investment Company (ZIIC). It also highlighted its value added services, such as its 'Coolcare' maintenance division, its prestigious international quality certifications, and a selection of its commercial and consumer air conditioning products - including newly launched products - were displayed.
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Zamil Air Conditioners gears up for construction boom in Madinah
- Saudi Arabia: Thursday, October 02 - 2003 at 09:34
- PRESS RELEASE
Zamil Air Conditioners (ZAC), a leading international manufacturer of air conditioning systems and the Middle East's market leader, is gearing up for an projected long-term boom in Madinah's construction sector by establishing a full service office and showroom in the city.
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About Zamil Air ConditionersZamil 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, which range from compact room air conditioners and mini splits to large scale central air conditioners, chillers and air handling units for highly specialised applications. These are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech, Kessler Tech and Geoclima - depending on specific markets.
ZAC is also involved in the production of branded air conditioners for leading international manufacturers, Sanyo, Trane, Luxaire, Philco, Admiral, Siemens Bosch and Frigidaire, under an Original Equipment Manufacturer (OEM) agreement. It operates a joint venture with General Electric, called Middle East Air Conditioners Ltd. (MEAC). As a result of excellent production facilities at ZAC, a range of GE-branded air conditioning consumer products are produced for Saudi Arabia and other Gulf countries.
ZAC is one of three sector businesses of Zamil Industrial Investment Company.
About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998, is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 4,800 people in 50 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, transmission towers, open web joists and decks, and architectural glass processing solutions to meet the requirements of the global construction industry through its three sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com) and Zamil Glass Industries (www.zamilglass.com).
ZIIC exports to more than 70 markets and derives 37% of revenues from outside Saudi Arabia. For the period January - June 2003, net profits after Zakat contributions grew by 25% to SAR 31.3m (US$ 8.3m), while post Zakat earnings per share also grew by 25% to SAR 5.22 ($1.39), up from SAR 4.17 ($1.11) during the same period in 2002.
For the year ended 31 December 2002, profits were SAR 50.8 million (US$ 13.5m) on turnover of SAR 1.4 billion ($ 376m). ZIIC's shares have been actively traded on the
Saudi Equity Market since early 2002. More information can be found at www.ziic.com.
For further information on this press release, please contact Zamil Industrial Investment Co., Public & Investor Relations Dept., Tel: (966) 3 8471840, Fax: (966) 3 8472574, Email: saidaldaajani@zamilsteel.com
Issued on behalf of Zamil Industrial Investment Company by Hill & Knowlton. For more information contact Jamil Alsharif on Tel: +973 533532, Fax: +973 533370
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, October 02 - 2003 at 09:34 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Mon Jul 11 2005.
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