State-of-the art working environment symbolizes Amiantit Group's global growth and strategic expansion
Dammam, 25 June 2006: Amiantit President & CEO Eng. Fareed Al-Khalawi has officially opened the new headquarters building of the Amiantit Group's GRE Division which manufactures glass reinforced epoxy (GRE) pipes for the oil, gas and petrochemical industries. The modern structure has been designed to provide a state-of-the-art working environment for GRE Division management and administrative staff and includes hi-tech conference facilities and a fully computerized engineering work area.
Following the inauguration ceremony, Eng. Al-Khalawi said " Amiantit's GRE Division was established in Dammam in 1982 with a company called Bondstrand Limited, a joint venture between Amiantit and Ameron International, to meet the specific demands of Saudi Arabia's oil industry and has grown in parallel with the Kingdom's diversification into petrochemical products and, more recently, its development of natural gas resources. At the same time, Amiantit GRE products serve the needs of other oil-producing states in the GCC and the Middle East and have become a significant contributor to the Kingdom's export drive. Today, the GRE Division is a key component in the Amiantit Group's manufacturing structure and this splendid new headquarters building stands as a symbol of Amiantit's progressive policy of strategic global expansion, both geographically and in terms of diversifying its range of products and services."
To meet the region's growing demand for GRE pipes, Amiantit GRE began stepping up production in 2003, doubling output by the end of 2005 when annual capacity reach 9000 metric tons. The two manufacturing facilities in Dammam, Bondstrand Limited and the newly commissioned Amipox factory which is wholly owned by Amiantit, use respectively Ameron technology and Amiantit-owned Amipox technology to produce a range of GRE pipes, fittings, flanges and spools that are made from high quality, fiberglass- reinforced, thermosetting epoxy-resin.
GRE pipes are corrosion resistant, lightweight, and easy to handle and install, and have a smooth internal surface that reduces friction and enables a high pipe flow capacity. The low thermal conductivity of GRE pipes relative to steel (only one per cent of steel values) minimises the cost of insulation and heat loss. Another major benefit of GRE pipes is that, once they are installed, they are virtually maintenance-free.
GRE pipes are well suited for environments where corrosion resistance is required at a reasonable price. Main uses include petrochemical process lines, oil and gas systems, fire-fighting systems, offshore and onshore systems, and ship and marine applications.
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Note to Editor:
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 million, which is currently standing at SAR 1.155 billion. 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 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
e-mail info@amiantit.com
© Press Release 2006
