Zamil Air Conditioners (ZAC), the leading Middle East and international manufacturer of air conditioning systems, has been awarded three new prestigious projects in the Kingdom of Bahrain for a combined value of SAR 3 million. Almoayyed Air Conditioning, Cooline distributor in Bahrain, is the HVAC contactor for these projects.
The first is for Royal University for Women, a new internationally accredited university set to open towards the end of this year. ZAC will supply and install its Cooline international flagship brand of air conditioners throughout the campus.
The scope of work of this contract includes the design, manufacture, supply and installation of a large quantity of roof packaged units, ducted split and mini split units and window-type units for the first construction phase scheduled for completion by September this year. The central air conditioning systems to be installed during the first phase will provide a cooling capacity of 1,354 tons.
"Cooline highly specialized air conditioning solution applications have been delivered to major universities and learning institutions in the GCC and globally. Our design and manufacturing capabilities enable us to meet the most stringent project specifications" commented Shaker Al Mousa, General Manager, Cooline.
Cooline will also supply and install ducted split systems, split systems with double-skin air-handing units (AHU) and matching condensing units for the Tala Property Development project on the Amwaj Islands in Bahrain.
"The real estate project located in the man made group of islands off the north coast of the Kingdom's Muharraq Island will combine residential neighborhoods with commercial districts and spectacular leisure resorts. The central air conditioning system will provide a total cooling capacity of 1,180 tons," said Ibrahim Sha, Country Manager, Bahrain.
Under the third contract, Cooline will supply and install a number of roof packaged units and window units for 20 villas in the Al Khaleej Development Co. (Tameer). The project is expected to be completed by the end of this year, and will provide a total cooling capacity of over 370 tons.
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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 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 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 exports to more than 75 international markets and derives 35% of its revenues from outside Saudi Arabia. For the year ended 31 December 2003, ZIIC posted turnover of SAR 1.56 billion (USD 416.3 million), a growth of 11% over 2002. Post Zakat earnings per share also grew by 10.6% to SAR 8.36 (USD 2.23), up from SAR 7.56 (USD 2.02) during the same period in 2002.
The company's performance in the first nine months of 2004 showed sustained growth. ZIIC recorded sales were SAR 1.46 billion (USD 389.3 million), an increase of SAR 250.3 million (USD 66.8 million), representing 20.7% increase over the same period last year. Shareholders equity increased by 11.7% to SAR 480.9 million (USD 128.2 million). Export sales amounted to SAR 792.6 million (USD 211.4 million), representing 54.3% of total revenues.
ZIIC shares are actively traded on the Saudi Equity Market. More information can be found at www.ziic.com.
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 specialised commercial and industrial applications. These 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, Austria and Italy.
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.
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
e-mail: saidaldaajani@ziic.com
© Press Release 2005
