13 July 2004
Khalid A. Al-Zamil, Managing Director of Zamil Industrial Investment Company (ZIIC), announced that Zamil Steel and Zamil Air Conditioners have been contracted to supply the pre-engineered steel building (PEB) and the air conditioning solutions for Dhahran Shopping City (DSC), which is being established in the Eastern Province of Saudi Arabia.  DSC is being developed by its owner, Al-Hokair Group. The combined project value of the shopping, retail and entertainment mall is in excess of SAR 27 million (US$ 7.2 million). It is due to be completed in November this year, while the official opening is scheduled for March 2005.

Zamil Steel will supply 5,000 metric tons of manufactured steel buildings.  This is being delivered and erected in less than four months. For the air conditioning element, Zamil Air Conditioners' Unitary and Applied Products Business Unit is designing, manufacturing and supplying 10 Chillers, each with a 500-ton capacity, and 548 Air Handling Units of differing capacities.

"This project is the second undertaking to be awarded to Zamil Steel and Zamil Air Conditioners by the DSC developer and owner.  It follows the completion in September last year of the Khurais Plaza shopping mall project in Riyadh where ZIIC companies provided the steel buildings, air conditioning solutions and glass requirements to the entire satisfaction of the project owner with a total value over SAR 27 million (US$ 7.2 million)," said Khalid A. Al-Zamil,  "The fact that this is a new order from a repeat client is true testimony of our ability to honor our commitments to our customers, on stringent adherence to project deadlines and on the delivery of uncompromising quality products."

-Ends-

About Zamil Air Conditioners
Zamil Air Conditioners (ZAC) was founded in 1974 as one of the first air conditioning business to be established in Saudi Arabia and today is a leading international manufacturer of air conditioning systems and is Number 1 in the Middle East. It designs, manufactures, tests, markets and services a comprehensive range of air conditioning products, which range from compact room air conditioners and mini splits to large scale central air conditioners, chillers and air handling units for highly specialized commercial and industrial applications.  These are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech, Kessler Tech and Geoclima - depending on specific markets.

ZAC is also involved in the production of branded air conditioners for several leading international manufacturers under an Original Equipment Manufacturer (OEM) agreement. It operates a joint venture between Zamil Industrial Investment Company (ZIIC) and General Electric, called Middle East Air Conditioners Ltd. (MEAC).  As a result of excellent production facilities at ZAC, a range of GE-branded air conditioning consumer products are produced for Saudi Arabia and other Gulf countries. ZAC has been vigorously moving into newer markets, seeking strategic alliances and investing heavily in R&D.

ZAC is one of three sector businesses of Zamil Industrial Investment Company.

About Zamil Steel
Founded in 1977, Zamil Steel Industries (ZSI) is a global leader in the manufacture of pre-engineered steel buildings and the Middle East's premier supplier of steel structures, transmission and telecommunications towers, open web steel joists and floor deckings. 

Products are marketed in more than 70 countries through a network of 50 sales offices, 59 certified builders and 27 agents and distributors.  ZSI's main factories are located in Dammam First and Second Industrial Cities, with additional factories located in Egypt and Vietnam. More than 400 engineers are employed in its engineering departments in Saudi Arabia, Jordan, Egypt, Vietnam and India.

ZSI is one of three sector businesses of Zamil Industrial Investment Company.

About Zamil Industrial Investment Company (www.ziic.com)
Zamil Industrial Investment Company (ZIIC) was established in 1998 as a joint stock company with a paid up capital of SR 350 million (US$ 93 million). It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 5,000 people in 50 countries.  As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, transmission towers, open web joists and decks, and architectural glass processing solutions to meet the requirements of the global construction industry.  ZIIC exports to more than 75 markets and derives around 35% of revenues from outside Saudi Arabia through its three sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com) and Zamil Glass Industries (www.zamilglass.com).

ZIIC manufacturing facilities are located in Saudi Arabia, Egypt, Vietnam, Austria and Italy. ZIIC is managed by Al-Zamil Group (www.zamil.com) and is listed in the Saudi Equity Market (www.tadawul.com.sa). For the year ended 31 December 2003, ZIIC posted turnover of SAR 1.56 billion (US$ 416.3m), a growth of 11% over 2002.  Post Zakat earnings per share grew by 10.6% to SAR 8.36 ($2.23), up from SAR 7.56 ($2.02) during the same period in 2002.

For more information on this press release, contact
Said Al-Daajani,
Zamil Industrial Investment Company,
Corporate Communications,
Tel: (966) 3 8471840,
Fax: (966) 3 8472574, or
e-mail: saidaldaajani@ziic.com

Issued on behalf of Zamil Industrial Investment Company by Hill & Knowlton. 

For more information contact
Jamil Alsharif on
Tel: +973 17 533532,
Fax: +973 17 533370, or
e-mail: jsharif@hillandknowlton.com.bh

© Press Release 2004