07 February 2008
Saudi-based Attieh Group Holdings has announced the acquisition of 35 percent stake in Al-Zamil Heavy Industries Ltd., the Kingdom's prime producer of storage tanks, pressure vessels, fired heaters, heat exchangers and metering systems, and a major service provider to the oil, gas and petrochemical industry. Waleed Attieh of Attieh Group and Ibrahim Al-Zamil of Al-Zamil Heavy Industries Ltd. signed the deal.
Chairmen of the respective companies, Sheikh Ahmad Attieh and Saleh Al-Zamil, were present. Waleed Attieh said that the acquisition of his group in Al-Zamil followed a careful monitoring of the company's progress in the last couple of years and its strong hold in the steel manufacturing industry in the Kingdom. "The Saudi market is seeing a major industrial boom, which requires the alliance between the two companies to face up to international competition. Ibrahim Al-Zamil acknowledged that this strategic industrial union would increase and add diversification to the capabilities of the company to sustain its leading role in the manufacturing industry.
Saudi-based Attieh Group Holdings has announced the acquisition of 35 percent stake in Al-Zamil Heavy Industries Ltd., the Kingdom's prime producer of storage tanks, pressure vessels, fired heaters, heat exchangers and metering systems, and a major service provider to the oil, gas and petrochemical industry. Waleed Attieh of Attieh Group and Ibrahim Al-Zamil of Al-Zamil Heavy Industries Ltd. signed the deal.
Chairmen of the respective companies, Sheikh Ahmad Attieh and Saleh Al-Zamil, were present. Waleed Attieh said that the acquisition of his group in Al-Zamil followed a careful monitoring of the company's progress in the last couple of years and its strong hold in the steel manufacturing industry in the Kingdom. "The Saudi market is seeing a major industrial boom, which requires the alliance between the two companies to face up to international competition. Ibrahim Al-Zamil acknowledged that this strategic industrial union would increase and add diversification to the capabilities of the company to sustain its leading role in the manufacturing industry.
Arab News 2008
