Air Conditioning solutions to be supplied to two Jeddah shopping malls
Zamil Air Conditioners (ZAC) has been awarded a major contract by prominent industrial business, Savola Group, to supply air conditioning solutions for two of the Group's shopping malls in the Red Sea city of Jeddah in the Western Province of the Kingdom of Saudi Arabia. More than 400 packaged, concealed, ducted splits and air handling units will be supplied to Roshan and Jamea Malls in a contract valued at SAR 6.1 million / USD 1.6 million.
The innovative climate control solutions being provided by ZAC - an international manufacturer of air conditioning systems and the Middle East leader as well as a sector business of Zamil Industrial Investment Company - will generate cooling capacities of 2,601 tons and 1,897 tons to Roshan and Jamea Malls respectively. The award follows earlier work awarded to ZAC for other Savola Group malls in the Saudi capital, Riyadh.
The main contractor for the Roshan Mall project is French firm, Fressaynet, while E.A. Juffali is the electro-mechanical contractor. The Qutaimi Company is the main contractor for the Jamea Mall project and Technical Electro Mechanical Works Company (Techno) is the electro-mechanical contractor.
"The fact that this is a repeat order from Savola Group, the end user client, is a true reflection of the confidence that has been instilled in Zamil Air Conditioners," said Ahmed Zaatari, Sales and Marketing Manager, ZAC. "The Azizia Panda Hypermarket and Mall East in Riyadh were supplied with 262 packaged and central split units earlier this year."
The development of the two malls in Jeddah began in November 2004 by United Properties, the recently announced joint venture between Old Mutual Properties and the Savola Group.
The expected completion date for the Jamea Mall is towards the end of 2005. It is located in the densely populated district southeast of the city center, close to the site of King Abdul Aziz University, the oldest university in the Western Region.
"Our highly specialized application solutions are designed for specific sectors, be it commercial, medical, educational or industrial to provide optimal comfort and reliable efficiency. ZAC's leadership is further enhanced by the support of maintenance and service HVAC provider, Zamil CoolCare, which offers technology and service expertise to back our systems and products," commented Osama Bunyan, Vice President, ZAC.
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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 specialised 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, 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).
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 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 5,500 people in 50 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, 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).
For the year ended 31 December 2004, ZIIC posted turnover of SAR 1.97 billion/USD 525 million, a growth of 26% over 2003. Post Zakat earnings per share also grew by 40% to SAR 10/USD 2.67, up from SAR 7.17/USD 1.91 during the same period in 2003. Shareholders' equity grew by 13.2% to SAR 494.9 million/USD 132 million. Export sales accounted for SAR 889.9 million/USD 237.3 million representing a 62.5% growth over 2003. ZIIC exports to more than 75 international markets and derives 45% of its revenues from outside Saudi Arabia.
Total turnover during the first half of 2005 was SAR 1.2 billion/USD 318 million, an increase of SAR 259 million/USD 69 million over the same period in 2004. Shareholders' equity increased by 16.5% to SAR 528.5 million/USD 141 million compared to the first half in 2004. Net profits after Zakat contributions grew by 51% to SAR 53 million/USD 14 million over the equivalent period in 2004. Post Zakat earnings per share grew to SAR 7.6/USD 2.0. Exports during the first half of 2005 were at SAR 424 million/USD 113 million.
ZIIC shares are actively traded on the Saudi Stock Market. More information can be found at www.ziic.com.
For more information, please 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
