Zamil Industrial Announces New JV with Rabiah and Nassar Group.Zamil Industrial Announces New JV with Rabiah and Nassar GroupZamil Industrial signed a new joint venture agreement with Rabiah and Nassar Group on Wednesday, 9 April 2008, whereby Zamil Industrial acquires 50 percent shares in Rabiah and Nassar Precast Concrete precast concrete Concrete cast into structural members under factory conditions and then brought to the building site. A 20th-century development, precasting increases the strength and finish durability of the member and decreases time and construction costs. factory (RANCO Precast pre·cast adj. Relating to or being a structural member, especially of concrete, that has been cast into form before being transported to its site of installation. ), based in Riyadh, Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. .
The total investment value in this factory is SAR (Segmentation And Reassembly) The protocol that converts data to cells for transmission over an ATM network. It is the lower part of the ATM Adaption Layer (AAL), which is responsible for the entire operation. See AAL. SAR - segmentation and reassembly 117 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 31.2 million). The facility designs, manufactures and erects precast concrete buildings used for various applications including residential, schools, shopping malls, plants, walls panels, and fabricates a variety of other concrete-based products. Precast concrete structures are known for their attractive designs, rapid assembly and low maintenance. The company is also planning to construct two new factories to produce Hollocore and concrete panel systems, and to expand its operations in new locations to become one of the biggest precast concrete factories in the region. "Zamil Industrial Board of Directors' decision to become a partner in this factory is part of the company's strategy to expand its operations and deliver new products and solutions, in addition to its current offerings of innovative, high quality air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. systems, steel products, architectural glass products and fiberglass insulation products, as well as to invest in the building and construction sector," said Dr. Abdulrahman Al Zamil, Chairman of the Board, Zamil Industrial, upon signing the agreement. Zamil Industrial is very glad to establish a long-term strategic partnership with Rabiah and Nassar Group, especially considering its long and substantial experience in the field of precast concrete structures, which has advanced its status to that of one of the leading companies in Saudi Arabia. "A primary objective of forming new partnerships is to expand our operations within and outside Saudi Arabia, as well as to establish new industries in the building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . arena that meet the increasing demand for these products in Saudi Arabia and the region," said Engineer Abdulwahab S. Al-Nassar, Board Director at Rabiah and Nassar Group. "We have chosen Zamil Industrial as a new strategic partner because of its well-known local and international reputation and its marketing, managerial and technical capabilities, which we believe that it will add a significant value to RANCO Precast on the long run". Zamil Industrial and Rabiah and Nassar Group expressed their appreciation to Amwal Financial Consultants for its exemplary efforts in fulfilling their integral role as financial advisors of this agreement, which had led to finalizing this strategic partnership. About Zamil Industrial Zamil Industrial was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 8,200 people in 55 countries. As an international manufacturing and fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. 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 aer·ate tr.v. aer·at·ed, aer·at·ing, aer·ates 1. To supply with air or expose to the circulation of air: aerate soil. 2. 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 3.68 billion/USD 982 million, a growth of 28.4% over 2006, with net profit, after Zakat zakat (zə-kät`) [Arab.,=purification], Islamic religious tax, one of the five basic requirements (arkan or "pillars") of Islam. All adult Muslims of sound mind and body with a set level of income and assets are expected to pay 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 Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. grew by 20.6% to SAR 894.3 million/USD 238.5 million. Export sales accounted for SAR 1331.7 million/USD 355.2 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. [c] 2008 Al Bawaba (www.albawaba.com) |
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