Arabia's Amiantit wins over US$31 million in pipe contracts

Included among the multiple contracts is a US$16.8 million deal for Amitech-Spain, which is fully owned by Amiantit, to supply GRP pipes to transmit water used for a huge irrigation project in Saragossa region in Spain. Others are in Mexico, the United States, Egypt, Saudi Arabia and Lebanon...


DAMMAM, Saudi Arabia, Jan. 3, 2006 -- Amiantit Group of companies won a number of contracts in different parts of the world, the Saudi Arabian-based business reported Dec. 20.

"These contracts emphasize on Amiantit's leading role in manufacturing and supplying various ranges of pipe systems wherever and whenever needed." said CEO and managing director Fareed Al-Khalawi.

Al-Khalawi added, "Amitech-Spain, which is fully owned by Amiantit, won a contract of US$16,800,000 for supplying GRP pipes to transmit water used for a huge irrigation project in Saragossa region in Spain. The pipes will be supplied by Amitech-Spain which is located 250 kilometer from the site."

In another deal, Amitech Mexico managed to secure a contract for US$2,133,000 for the supply of 14 kilometer of GRP -- glass reinforced plastic (also known as FRP or fiberglass reinforced plastic) to the project "ACUASUR" in Queretaro de Arteaga, Mexico. Only last month, Amitech Mexico won a contract for supplying 8 kilometer of GRP pipes used for sewer. The US$6.6 million project is due to be completed in January 2006.

As for the United States, Amitech-USA is about to finish supplying Meyer Polycrete pipes worth of US$1,600,000 to the Upper Jones Falls project in Baltimore, Md. These jacking-pipes are installed underground at depths ranging between 10 to 75 feet without the need to dig trenches or disturb traffic. Another contract worth of US$3,000,000 was secured for the sale of ductile iron pipes used in rehabilitation of water systems in the city of Damanhoor, Egypt. There were also two contracts that amount to US$1,550,000 for the sale of high density polyethylene pipe systems in Saudi Arabia and Lebanon.

Al-Khalawi reiterated: "These orders show global confidence in the reliability of Amiantit products and technologies, all of which are supported by certifications such as ISO 9001, ISO 14001, UL, FM, NSF, and many others, ensuring that production conforms to the highest international standards." Al-Khalawi went on to say: "Amiantit has managed to win these contracts despite the strong international competition. This raises the confirmed orders to more than US$450,000,000, which constitutes 50% of the expected sales of 2006".

The Saudi Arabian Amiantit Company (www.amiantit.com) 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 just over US$1,000,000, which is currently standing at US$308 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 the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & 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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