The Saudi Arabian Amiantit Company, based in Dammam, was originally established as a limited liability company in 1968 to manufacture pipes for the oil and gas industry in the Eastern Province. In January 1994, it was converted into a joint stock company.

It was floated on the Saudi share market at the start of 1997.At the time of the conversion into a joint stock firm, Saudi Arabian Amiantit had seven subsidiaries and one affiliate with a total of 11 factories manufacturing pipes, pipe accessories and fiber glass insulation material.

These subsidiaries had technical relationships with Western companies, including Owens Corning and Ameron, both of the US, and Pont-a-Mousson of France. The conversion of the company into a joint stock entity also involved raising capital to SR 350 million ($93 million) and the sale of shares in the firm held by a Swiss company.

The main shareholders are the Al-Mawarid Group of Riyadh and Al-Bilad. Developments include the expansion in 1996 of its rubber factory. Production has started at a joint venture fiber glass factory in Egypt.

In May 1998, a memorandum of understanding was signed with an Iranian firm to set up a fiber glass pipes factory in Iran. Amiantit took a 30 per cent stake in the new project. Saudi Arabian Amiantit recorded net profits of SR 62.

4 million ($16.6 million) in 1997, an increase of 365 per cent on SR 13.4 million ($3.6 million) in 1996. Net sales income rose by 43 per cent to SR 506 million ($134.9 million) from SR 354 million ($94.

4 million). Profit growth continued in the first half of 1998, albeit at a slower rate, with pre-zakat earnings rising 9 per cent to SR 22.4 million ($6 million), from SR 20.5 million ($5.5 million) in the same period of 1997.

The balance sheet grew by 10 per cent to stand at SR 1,039.8 million ($277.3 million).

Individuals	N/A
Institutions	N/A
Floating	N/A
Government	N/A

Director	Dr. Abdul Aziz Al Jarbou
Director	Dr. Khalil Kordi
Director	Fahed Al Athel
Managing Director	Fareed Khalawi
Vice Chairman	Prince Ahmed Bin Khaled Bin Abdullah Bin Abdul Rahman Al Saud
Chairman	Prince Khalid Bin Abdullah Al Saud
Director	Suleiman Al Amrou
Director	Suleiman Suhaimi

	2004	2003	2002
Total Assets	3,452,717	3,136,600	2,441,532
Shareholder's Equity	789,548	824,653	767,542
NIAT	-52,963	78,330	104,080
Dividends	N/A	N/A	45,500

	2004	2003	2002
Assets Growth	10.08%	28.47%	35.55%
Earning Growth	0.00%	-24.74%	-13.62%
ROaA	-1.61%	2.81%	4.91%
ROaE	-6.56%	9.84%	14.55%
No. Of Shares	15,400,000	14,000,000	13,000,000
EPS	-3.44	5.60	8.01
EPS Growth	0.00%	-24.74%	-13.62%
Payout Ratio	N/A	N/A	43.716

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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