Doha, 17 January 2010 - Aamal Company QSC (Aamal), one of the GCC's fastest growing diversified conglomerates, today announces that its subsidiary Aamal Cement Industries W.L.L. has officially commenced operation of its newly opened cement block manufacturing plant in Messaid, Qatar. The development of the plant is in line with Aamal's strategy for diversification into new high growth revenue streams and will support the wider industrialisation of the Qatari economy.

The plant will manufacture a wide range of concrete building and paving products and will be one of the largest in Qatar by production volume with a maximum production capacity of 85,000 blocks per day or 6,900 square metres of interlocking paving per day. The main, German manufactured machinery and equipment for the factory can produce different varieties of building and pavement blocks tailored to specific customer requirements. The factory can produce solid and hollow masonry blocks of different sizes ranging from 4" to 6"; and paving blocks and curb stones in a wide range of shapes, sizes and colours.

At present with demand currently outstripping supply there is a significant opportunity for Aamal Cement Industries to develop a high growth revenue stream in the concrete block industry in Qatar.

Comment

Aamal Company Chairman His Excellency Sheikh Faisal Bin Qassim Al-Thani commented:

"Our vision is to become the leading building and pavement blocks manufacturer in the region by meeting the highest international quality standards and following a customer-focused approach. With numerous infrastructure and industrial projects to be undertaken in the coming few years, the demand for manufacturers of quality concrete blocks for buildings and pavements is projected to be strong and Aamal Cement will be focused on growing the business to fill this supply shortfall in the Qatar market. Our goal is to be a major player in the market through the delivery of high quality products to the end users."

Aamal Company Vice Chairman Mr. Tarek Mahmoud El Sayed said:

"Aamal has always been in the forefront of the industrial space in Qatar by constantly seeking opportunities to expand its existing businesses, grow organic new revenue streams and to start new ventures in partnership with major international players in strategically significant sectors. With recently established companies, such as Frijin Structural Steel Middle East, Senyar Industries Qatar Holding, and Aamal Industrial Advanced Pipes Company the Industrial sector in Qatar continues to become more and more prominent and Aamal Company will continue to take a leading role in the development of this market."

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About Aamal Company QSC
Aamal is one of the GCC's fastest growing diversified conglomerates, delivering a CAGR in operating profit of 23% from 2006-2008 and generating revenues of QAR 651m (US$179m) in 2008.  Focused on sustained, profitable growth and strongly diversified for balanced exposure across Qatar's growing economy, Aamal's operations comprise over 16 business units with market leading positions in the key property management and development, industrial, retail, managed services, medical equipment and pharmaceutical sectors.  Listed on the Qatar Exchange, Aamal currently ranks in the top 10 listed companies by market capitalisation.

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© Press Release 2010