Zamil Industrial Announces New Joint Venture with New Delhi Tele-Towers Pvt. Limited |
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Zamil Industrial Investment Company "Zamil Industrial"Zamil Industrial Investment Company "Zamil Industrial"
, an international manufacturing and fabrication group, announced the launch of a new joint venture with New Delhi Tele-Towers Pvt. Limited, a company headquartered in India that provides infrastructure solutions to telecom operators. The partnership, named Zamil New Delhi Infrastructure Pvt. Ltd., will operate from New Delhi, India, and focus on the supply of Telecom towers, accompanying shelters fitted with the appropriate sandwich panels, customized air conditioning equipment and power interface units. It will also supply a range of related support products, along with comprehensive installation and maintenance services. The joint venture agreement creating the new company was completed after details were finalized on 27 October 2008. Authorized capital amounts to SAR 75 million (USD 20 million), in which Zamil IndustrialZamil Industrial will hold a 51% equity share.
Abdulla Al Zamil, COO, Zamil IndustrialZamil Industrial, commenting on the venture, stated, "We are extremely pleased to partner with New Delhi Tele-Towers Pvt. Ltd as we embark on this new journey. It is exciting to become an active participant in the telecom business in India, as the possibilities for growth and innovation are endless. At Zamil IndustrialZamil Industrial, we are confident that our extensive resources and capacity for innovation and creativity will provide a solid, supportive platform from which to develop efficient, cost effective and top quality solutions for telecom operators."
The joint venture combines the resources of New Delhi Tele-Towers Private Ltd with the production capacity of the existing Zamil Steel factory located in Pune, India, as well as the Zamil IndustrialZamil Industrial affiliated air conditioning facility - Advantec Coils - in Himachal Pradesh in Northern India and various Zamil Industrial facilities in Saudi Arabia. It marks the first Zamil IndustrialZamil Industrial offering of all its major product lines in the form of an entirely new business entity.
Ramesh Awtaney, CEO of New Delhi Tele-Towers Pvt. Ltd, said "We are pleased to join with Zamil IndustrialZamil Industrial in providing products and services that are in such great demand within this high growth, high potential industry. As telecom operators cope with astronomical growth, they are searching for the right businesses to take on the responsibility of building and servicing passive infrastructures - leaving operators free to focus on network development and providing innovative solutions to their customer base. We believe that Zamil New Delhi Infrastructure Pvt. Ltd. is a 'right place - right time' solution to an urgent industry need."
Expectations for success are bolstered by projections in force for Zamil New Delhi Infrastructure Pvt. Ltd. The customer base is growing at a rate of nine million subscribers per month, according to Telecom Regulatory Authority of India (TRAI) reports. At full capacity, the new company is projected to attain annual revenues exceeding USD 300 million by the fifth year of operation.
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About Zamil New Delhi Infrastructure Private Ltd.
Zamil New Delhi Infrastructure Private Ltd. (ZND) is a Joint Venture between Zamil Industrial Investment Company "Zamil Industrial"Zamil Industrial Investment Company "Zamil Industrial" and New Delhi Tele-Towers Private Ltd., formed in 2008 to supply passive telecom infrastructures -- galvanized telecom towers, shelters with sandwich panels and air conditioning equipment --for the growing Telecom Industry in India. The new business will manufacture and supply the necessary structural and related support products and provide required on site installation and maintenance services. Operations are headquartered in New Delhi, India.
ZND was formed in response to the growing demand for both active and passive infrastructure solutions for the burgeoning telecom industry in India. The partnership places the company in a unique position to meet current and future needs for both distinctive value added designs and increased energy efficiency in air conditioning solutions of telecom operators across the region.
The joint venture combines the resources of New Delhi Tele-Towers Private Ltd with the production capacity of the existing Zamil PEB factory located in Pune, India, as well as the Zamil affiliated air conditioning facility of Himachal Pradesh in Northern India and various Zamil Industrial facilities in Saudi Arabia. It marks the first Zamil IndustrialZamil Industrial offering of all its major product lines in the form of an entirely new business entity.
About Zamil IndustrialZamil Industrial
Zamil IndustrialZamil Industrial was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 9,600 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 IndustriesZamil 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 2007, Zamil IndustrialZamil Industrial posted turnover of SAR 3.681 billion/USD 982 million, a growth of 28.4% over 2006, with net profit, after Zakat contribution, of SAR 206.5 million/USD 55.1 million. Post Zakat Earnings Per Share during 2007 grew to SAR 4.59/USD 1.22 from SAR 4.26/USD 1.14 representing 7.8 percent growth. Shareholders' equity grew by 20.3% to SAR 894.3 million/USD 238.5 million. Export sales accounted for SAR 1,337 million/USD 356.5 million representing 36% of total revenue and 20.4% growth over 2006. Zamil IndustrialZamil Industrial exports to more than 80 international markets.
Zamil IndustrialZamil Industrial shares are actively traded on the Saudi Stock Market. More information can be found at www.zamilindustrial.com.
For more information on this press release, contact
Said Al Daajani,
Zamil IndustrialZamil Industrial,
Corporate Communications,
Tel: (966) 3 8471840,
Fax: (966) 3 8472574,
e-mail: saidaldaajani@zamilindustrial.com
© Press Release 2008
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