"The boost in the demand over our products that are developed at our own R&D centres and backed by international quality certificates indicates the awareness of our customers." said Fareed Yousef Al-Khalawi, Amiantit's Group CEO and Managing Director. This announcement was issued after the approval of Amiantit General Assembly meeting to increase the capital from US$ 205 million to US$ 308 million. "In fact, the Amiantit Group today is a global giant with 34 pipe manufacturing facilities in 16 countries worldwide and ranks as the world's biggest manufacturer of GRP pipes, one of the leading suppliers of other types of pipes, and the industry's leader in research, development and ownership of advanced pipe manufacturing technologies."
Ductile iron pipes orders were particularly on the rise and included replacement of asbestos cement pipes in the UAE - a substance which is internationally banned -. SADIP, located in Dammam in the east of Saudi Arabia, is the largest ductile iron pipe factory in the Middle East and it is a member of the Amiantit Group.
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Amiantit contracts exceed USD 211 million in the 1st half of 2005 in GCC and Yemen
- Saudi Arabia: Sunday, August 07 - 2005 at 15:07
- PRESS RELEASE
The Amiantit Group has secured contracts in the GCC totalling USD 211 million for the 1st half of 2005 to supply various types of pipes for industrial and infrastructure projects in Saudi Arabia, UAE, Qatar, Kuwait, Oman, and also in Yemen.
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The Saudi Arabian Amiantit Company was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of SAR 4,000,000, which is currently standing at SAR 770 million. Its shares are traded on the Saudi Stock Exchange. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam, Saudi Arabia.The Amiantit Group is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.
For further information please contact:
Assim L. Alhakeem
Saudi Arabian Amiantit Company
Tel: 02 - 651 5676 Ext: #666
Fax: 02 - 651 6149
Posted by Anne-Birte Stensgaard, Senior News EditorSunday, August 07 - 2005 at 15:07 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 Sat Mar 03 2007.
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