Zamil Hudson Company Limited announced the grand opening of its new manufacturing facility at a special seminar event held on Tuesday, October 14th, 2008 at the Grand Ballroom of the Holiday Inn Hotel, Al Khobar. The company is the result of a joint venture between Zamil Industrial, an international manufacturing and fabrication group, and Hudson Products Corporation - through its affiliate Hudson Products Middle East LLC, a world leader in the manufacture of Air Cooled Heat Exchangers.
Event highlights included presentations and speeches to mark the occasion by executives from both companies. More than 100 top executives from Saudi Aramco, SABIC, Saudi Electricity Company and various other major industrial and international contracting companies also attended and participated in the seminar.
The focus of the gathering was the launch of the company's new manufacturing facility, located in Dammam, Saudi Arabia. Expected to become a regional leading manufacturer, the inaugural factory demonstrates the result of a new strategic partnership created to manufacture and service Air Cooled Heat Exchangers in service of utility, petroleum, chemical, oil and gas processing and industrial customers in the Middle East, Africa, and Central Asia.
The strategic partnership between the two companies combines the exceptional industrial and manufacturing expertise, joint venture management skills, and regional presence of Zamil with the global reach and more than 69 years of experience in the manufacturing for the petroleum, chemical, gas processing and electrical utilities industries of Hudson Products, one of the world's largest ACHE producers.
Hudson Products Corporation, a pioneer in its field, also brings two distinct advantages to the joint venture: It is the only supplier of Air Cooled Heat Exchangers that designs and manufactures its own line of axial fan blades, and the company routinely utilizes advanced thermal engineering to maximize production efficiency and improve cost effectiveness.
The collaboration, operating within the burgeoning economy of Saudi Arabia, will provide clients in the region with integrated and proven design, manufacturing and service expertise at a price performance scale that is second to none. In addition, Zamil Hudson value-based relationships extend to aftermarket operations where the requirements for system and process operational efficiency are pivotal.
"The inauguration of this new manufacturing facility displays the synergistic results of our dynamic partnership to the regional business community. Zamil Hudson represents the highest level of engineering, manufacturing and management expertise working within a regional economic environment that could not be more conducive to the company's efforts," commented Abdulla Al Zamil, COO of Zamil Industrial.
Mr. Christopher Yunkun, President and Chief Executive Officer of Hudson Products Corporation had this to say about the grand opening: "The new Zamil Hudson factory begins operations with the solid foundational support of Zamil Industrial in the region. Working closely with vibrant and growing sector companies such as Zamil Air Conditioners and Zamil CoolCare Services, we are confident that this enterprise will yield highly beneficial results for both companies and contribute to the growing economic vitality of both Saudi Arabia and the GCC region."
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About Zamil Hudson Company
Zamil Hudson Company is a Joint Venture between Zamil Industrial and Hudson Products Corporation, formed in 2008 to focus on the manufacture, assembly and maintenance of Air Cooled Heat Exchangers serving utility, petroleum, chemical, oil and gas processing and industrial customers in the Middle East, Africa, and Central Asia. Operations are headquartered in Dammam, Saudi Arabia.
The venture combines the production and service capabilities of Zamil Air Conditioners, the largest HVAC products and services provider in the Middle East, and the experience and innovative success of Hudson Products, a recognized world leader in the field of industrial heat transfer equipment, to provide and maintain Air Cooled Heat Exchangers in a target market where water is scarce, offering a distinct advantage to the company.
Zamil Air Conditioners and Zamil CoolCare, the company's service arm, conduct the manufacturing and service operations for the joint venture. The partnership places the company in a position to meet current and future industrial product needs across the region.
About Zamil Industrial
Zamil Industrial was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 9,600 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 2007, Zamil Industrial posted turnover of SAR 3.681 billion/USD 982 million, a growth of 28.4% over 2006, with net profit, after Zakat contribution, of SAR 206.5 million/USD 55.1 million. Post Zakat Earnings Per Share during 2007 grew to SAR 4.59/USD 1.22 from SAR 4.26/USD 1.14 representing 7.8 percent growth. Shareholders' equity grew by 20.3% to SAR 894.3 million/USD 238.5 million. Export sales accounted for SAR 1,337 million/USD 356.5 million representing 36% of total revenue and 20.4% growth over 2006. Zamil Industrial exports to more than 80 international markets.
Zamil Industrial shares are actively traded on the Saudi Stock Market. More information can be found at www.zamilindustrial.com.
About Zamil Air Conditioners (www.zamilac.com)
Zamil Air Conditioners was founded in 1974 as a pioneer in the Saudi Arabian air conditioning industry. Over the past three decades, the company has expanded to become a leading international manufacturer of air conditioning systems and is currently the Number One producer in the Middle East. Zamil Air Conditioners 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. The company's products and services are marketed under various brand names - Classic, Cooline, Cool Care, Clima Tech and Geoclima - depending on the specific market. Zamil Air Conditioners factories are located in Dammam, Saudi Arabia, Italy and India.
Zamil Air Conditioners 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 and General Electric, called Middle East Air Conditioners Ltd. (MEAC).
Zamil Air Conditioners has launched vigorous initiatives resulting in movement into a variety of new markets, the formation of strategic alliances and robust investments in the company's extensive R&D department.
Zamil Air Conditioners operates as one of the four sector businesses of Zamil Industrial.
For more information on this press release, contact
Said Al-Daajani,
Zamil Industrial
Corporate Communications,
Tel: (966) 3 8471840,
Fax: (966) 3 8472574,
e-mail: saidaldaajani@zamilindustrial.com
© Press Release 2008
