Strengthens its Market Share and Leadership Position
Zamil Air Conditioners (ZAC), a business unit of Zamil Industrial Investment Company (a Saudi Joint Stock Company) and the leading Middle East and international manufacturer of air conditioning systems, has successfully launched its "Cooline from Zamil" brand in Yemen. The product line was officially introduced at the company's technical seminar at the M?venpick Hotel in Sanaa, Yemen, on Wednesday 28 March 2007, under the patronage of the Mayor of the capital city, Yahya Al-Shuaibi.
Many Yemeni official dignitaries, as well as businessmen, consultants and contractors attended the event. The seminar began with an opening address from Mr. Mutaher Al-Sanabani, General Manager of Styrco for Industry & Trade Company, and agent of Zamil Air Conditioners. After a brief welcome to the audience, he expressed appreciation for their support at the official launch of the "Cooline from Zamil" brand in Yemen. Mr. Al-Sanabani proceeded to commend the exceptional quality of the Saudi made products and detail the success of the company's global brand.
The ZAC delegation included Managers and representatives from each Strategic Business Unit of the company.
"The strengthening of the ZAC position in the Yemeni market provides true evidence of the importance of this promising market. ZAC will offer a comprehensive range of air conditioning products and HVAC solutions, in addition to its support maintenance services and spare parts," said Ahmed Al Zamil, President, ZAC.
"This partnership will reinforce ZAC's position in Yemen and is expected to build brand awareness and loyalty among consumers, clients and contractors. We have the utmost confidence in our ability to contribute to the support of continued growth in the industrial sector of Yemen, particularly with the key support provided by our regional partners and considering our commitment to providing innovative, top quality products in this promising market," added Ahmed Al Zamil.
The seminar, which included lunch and was highlighted by presentations of ZAC HVAC products, services and solutions by ZAC representatives, was considered a technical success as well as a milestone for the growing HVAC market sector in Yemen.
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About Zamil Air Conditioners (www.zamilac.com)
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, 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 products and services are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech, Kessler Clima Tech and Geoclima - depending on specific markets. ZAC's factories are located in Dammam, Saudi Arabia and Italy.
ZAC is also involved in the production of branded air conditioners for several leading international manufacturers under Original Equipment Manufacturer (OEM) agreements. It operates a joint venture between Zamil Industrial Investment Company (ZIIC) and General Electric, called Middle East Air Conditioners Ltd. (MEAC).
ZAC has been vigorously moving into newer markets, seeking strategic alliances and investing heavily in R&D.
ZAC is one of four sector businesses of Zamil Industrial Investment Company.
About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 6,800 people in 55 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, architectural glass processing, aerated concrete products and fiberglass insulation solutions to meet the requirements of the global construction industry through its four sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com), Zamil Glass Industries (www.zamilglass.com) and Arabian Fiberglass Insulation Co. Ltd. (www.afico.com.sa).
For the year ended 31 December 2006, ZIIC posted turnover of SAR 2.87 billion/USD 764.7 million, a growth of 21% over 2005, with net profit, after Zakat contribution, of SAR 191.7 million/USD 51.1 million. Post Zakat Earnings Per Share during 2006 grew to SAR 4.26/USD 1.14 from SAR 2.36/USD 0.63 representing 80.2 percent growth. Shareholders' equity grew by 26.2% to SAR 741.5 million/USD 197.7 million. Export sales accounted for SAR 1105.6 million/USD 294.8 million representing 39% of total revenues and 18.4% growth over 2005. ZIIC exports to more than 80 international markets.
ZIIC shares are actively traded on the Saudi Stock Market. More information can be found at www.ziic.com.
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 Samil Amin
Tel: +973 17 533532,
Fax: +973 17 533370,
e-mail: Sami.Amin@hillandknowlton.com
© Press Release 2007
