• Factories in Egypt get orders worth US$11 million; Flowtite GRP pipes specified for hydroelectric plant in Brazil.
DAMMAM, Saudi Arabia, Feb. 1, 2007 -- Continuing the long run of successful contract wins by its subsidiary companies and joint venture partnerships based outside the Kingdom, the Amiantit Group announced yesterday major orders for its manufacturing facilities in Egypt.
"We are especially pleased about these orders from our colleagues in Egypt and Brazil," said Eng. Fareed Al-Khalawi, president & CEO of Amiantit. "Both countries play an important role in Amiantit's global strategy and our various manufacturing facilities in them greatly enhance our operational capabilities in North Africa and South America. Moreover, the choice of Amiantit pipe systems reflects a trend that we are seeing worldwide as public sector administrations and private sector companies in more and more countries recognize the technological merits, superior quality and environment-friendly features of our world class products. "
The contract awards for Amiantit factories in Egypt consist of three orders amounting to US$11,365,269. Two of these orders are for glass reinforced polyester (GRP) pipes, the largest being for the Aburdeice project and worth US$4,912,960, while the other is for the Abuteeg project and worth US$2,176,003. These orders will be fulfilled by the Amiantit Fiberglass Egypt Company (AFEC) using Amiantit-owned Flowtite technology which produces environment-friendly pipe systems that are corrosion-resistant, lightweight, easy to install and virtually maintenance free.
The third order, worth US$4,276,306, is for concrete cylinder pipes (CCP), which will be manufactured by Amiantit Group member Ameron Egypt. CCP pipes are used for applications such as potable water, storm, irrigation, sewage and sea water cooling systems in situations where high bearing capacity is required.
On the other side of the world, Amiantit Group company, Amitech Brazil, has succeeded in getting a breakthrough contract award for its Flowtite GRP pipes which were selected in preference to the usual choice of steel. The favorable decision was made by Rischbieter (Gaspar, SC) of the Brazilian state of Santa Catarina, a company which specializes in civil construction projects such as the treatment of industrial and domestic effluents and small hydroelectric plants.
The Amiantit Group (www.amiantit.com), headed by its Dammam, Saudi Arabia-based parent the Saudi Arabian Amiantit Company Ltd., is one of the world's biggest manufacturers of pipes and accessories which are produced at 34 manufacturing facilities around the globe and marketed by a trading organization consisting of sales offices or representatives in more than 45 countries.
Saudi Arabian Amiantit Company Ltd. was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of SAR 4 million [US$1.07 million], which is currently standing at SAR 1.155 billion [US$307.97 million]. Its shares are traded on the Saudi Stock Exchange. 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.
The Amiantit Group is a leading industrial organization with global strength and is comprised of companies in Saudi Arabia and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber 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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