Amiantit wins $20 million pipe contracts in Iraq, Syria and Jordan

Also forms joint venture company with Saudi Industrial Services Co. for water management services in Saudi Arabian industrial cities being developed and licenses Australian company to produce its GRP/FRP products...

DAMMAM, Saudi Arabia, Feb. 26, 2005 -- Recent contract wins by the Saudi Arabian Amiantit Company total EUR 15 million [US$19.9 million]. Of this amount, EUR 7 million [US$9.28 million] is for supplying GRP pipes, with diameters ranging from 250 to 2,800 mm [10"-110"], that will be manufactured by Amiantit's subsidiaries in Dammam and Turkey. A total of 45 kilometer [30 miles] of pipes will be used for sewage projects in Baghdad, Iraq, and in Samara, Jordan.

GRP, or pipes from glass fiber reinforced thermosetting plastics, are also know as fiberglass reinforced pipes (FRP).

Amiantit also supplied fiberglass pipes worth EUR 8.2 million [US$10.87 million] for the General Foreign Trade Organization in Syria, ranging from 150 to 1,000 mm [6"-39"]. The 86-kilometer [53-mile] project will be used for water transmission lines in Al Hasaka.

"Winning these projects confirms international confidence in the high quality and -- as an ISO 14001 certified company -- the environmental safety of Amiantit's products," said Eng. Fareed Yousuf Al Khalawi, Amiantit's CEO. "We are proud to be one of the largest company producing GRP pipes and tanks in the world.

"We also produce various ranges that include concrete cylinder, ductile iron, and high density polyethylene pipe systems, that are used to transport drinking water, wastewater and sewage, and we have the capability and flexibility to meet the requirements and specifications of any type of infrastructure project," Al Khalawi added.

"In addition, we own and license a number pipe manufacturing technologies, and our R&D facility is constantly working to keep us ahead of the field and maintain Amiantit's position as the world leader in pipe manufacturing."

Amiantit has supplied its products for a large number of projects throughout the world and especially in the Middle East and west and east Africa region (MENA) and has made a significant contribution to building the region's infrastructure. The company recently expanded its activities to include consultancy, building and operational services for complete water supply and wastewater management projects and is currently a leading participant in major infrastructure projects in many countries of the world.

The Saudi Arabian Amiantit Company was established in 1968 at Dammam and is a joint publicly traded stock company with a paid-up share capital of EUR 154.6 million. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam, Saudi Arabia.

Amiantit's AmiWater, Saudi Industrial Services Co. form joint venture
In other news this month, as part of a joint cooperation between AmiWater, a member of the Amiantit Group of Companies, and Saudi Industrial Services (SISCO), a new company has been formed as a 50-50 partnership called International Company for Water Distribution (Tawzee). The new company will provide water management services for industrial cities in Saudi Arabia. Both companies have been selected by the Saudi Industrial Cities and the Technology Regional Commission to provide water services for the First Industrial City, Jeddah, and the Second Industrial City, Riyadh.

Jeddah-based AmiWater was formed by the Saudi Arabian Amiantit Company, as a holding company for a number of companies that are among the leading international specialists in water infrastructure projects for both the public and private sectors.

This division of Amiantit has the expertise, technology and engineering skills to provide complete systems solutions on a global scale and is currently operating projects in Eastern Europe, Russia, Turkey, Greece, Africa, India, Indonesia and Thailand.

Beside SISCO's experience in providing support services to Kingdom's industrial estates, SISCO constructed and currently operating the first re-export zone at Jeddah Islamic seaport with an investment of nearly 200 million Riyals. To provide potable water for Jeddah Industrial Estate, SISCO and partners have formed Kindasa Water Services Co. to build the first private seawater desalination plant in the Kingdom. Operating with a capacity of 14,000 cubic meters a day with an aim to reach 39,000 cubic meters by midyear, the produced water is pumped directly to the factories and production units through a pipeline which helps greatly in cutting direct costs.

Amiantit sells flowtite machines in Australia
In addition, Amiantit Group -- owner of Flowtite technology -- recently licensed two Flowtite machines for producing GRP pipes to Fiberlogic PTY Ltd, which is one of the largest GRP pipe-producing companies in Australia.

The machines will be shipped in August and the plant is to begin production early November. The plant will be built in Lonsdale in the south of Australia on a 50,000 square meter area with an investment of EUR 15 million [nearly US$20 million]. Fiberlogic has been marketing and selling Flowtite pipes in Australia

Amiantit owns a number of technologies that it licenses and markets. It is one the world's largest producers of GRP/FRP pipes and tanks, with 37 plants from China to the United States, producing GRP, glass reinforced epoxy (GRE), ductile iron (DI), concrete cylinder (CCP) and high density polyethylene (HDPE) pipe systems among other types of products.

About The Amiantit Group
The Amiantit Group (www.amiantitgroup.com) is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber and insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.

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