New product developed and manufactured by Amiantit Fiberglass Industries Ltd is introduced for the first time in the Middle East

Dammam, 30 June 2004 - The Amiantit Group, best known as the world's leading manufacturer of pipes for water infrastructure networks, has achieved another milestone by becoming the first in the Middle East to develop and put into production Double Wall Tanks made from reinforced fiberglass. Designed and manufactured by Amiantit Fiberglass Industries Ltd. (AFIL), an Amiantit Group company, the new product is expected to replace existing steel double wall tanks due to their strength and the fact that Amiantit fiberglass tanks are resistant to corrosion.

Double wall tanks have an inner wall that forms the main chamber of the tank used for storage of potentially hazardous liquids such as chemicals, petroleum fuel products and alcohol gasoline mixtures. The outer wall creates a protective space around the main chamber and this space is filled with a non-hazardous liquid that detects any leakage. The tank is equipped with a unique alarm system that is triggered to sound if a leak is detected. In addition, in the unlikely event of a breach in the inner wall, the outer wall is designed to contain the spill and prevent pollution and related environmental damage.

Steel double wall tanks are subject to internal corrosion which contributes leaks and failures, and also can be affected by two external sources of corrosion: galvanic action and stray electrical currents. Amiantit fiberglass double wall tanks are non-rusting and maintenance free, and are formulated to be compatible with all petroleum fuel products and alcohol gasoline mixtures. Fiberglass double wall underground fuel storage tanks can be used to store gasoline, aviation fuel, gasohol (a mixture of 90% gasoline and 10% ethanol), jet fuel, diesel fuel, potable water or waste water at ambient underground temperatures, or fuel oil at temperatures not exceeding 65 degrees centigrade.

In addition to being non-corrosive, Amiantit fiberglass double wall tanks are strong and durable with special high strength ribs that bond the inner and outer tank walls together to form a unique structure system. Properly installed, underground fiberglass tanks are strong enough to withstand constant aboveground traffic loads from the heaviest vehicles and are designed to meet specific performance criteria in dry or fully flooded holes.

Fiberglass underground tanks are made from polyester resins reinforced with glass fiber and silica sand. Because they are not susceptible to corrosion they require no maintenance, eliminating the need for periodic testing, record keeping and replacement of cathodic protection systems, while concern about the service life of the tank and potential financial liabilities are avoided.

The Amiantit Group is the industry leader in fiberglass technology and has developed and owns a number of processes for the manufacture of fiberglass pipes and tanks, including ownership of the world patents for Flowtite, the industry's most successful fiberglass manufacturing technology. Marketing and licensing these technologies worldwide has become a profitable part of Amiantit's business and ownership provides leverage for the Group to penetrate new and emerging markets.

Amiantit fiberglass pipes and tanks serve a variety of markets including municipal, industrial, oilfield, chemical, offshore, and marine. They are strong, lightweight, extremely resistant to corrosion, easy to transport, easy to install, and are a cost effective and environment friendly alternative to metallic products which often degrade and fail due to corrosion.

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© Press Release 2005