Zamil Steel Plant officially inaugurates Ras Al Khaimah factory
Zamil Steel (ZS) officially inaugurated its
new factory in Ras Al Khaimah, UAE,
The official ceremony was held under the patronage of HH Sheikh Saud bin Saqr Al Qassimi, Crown Prince and Deputy Ruler of Ras Al Khaima, and was attended by Mohammed Al Zamil, Chairman - Zamil Group, Dr. Abdulrahaman Al Zamil, Chairman - Zamil Industrial Investment Company, government dignitaries and officials, major customers and suppliers and numerous ZIIC corporate officers from around the world.
The enormous potential of the UAE market makes the new facility one of the most important steps ZS has taken in its global expansion initiative. The total investment in this new plant is SAR 175 million (USD 46.7 million), split over two phases. While the factory primarily serves the UAE market, it also lends support by supplying the neighboring Gulf countries' rising demand for steel components.
'Our national sales have been rising steadily over the past few years, increasing by more than 40%. Specifically, our pre-engineered steel buildings (PEB) sales have reached their highest point ever, which has allowed us to maintain our grip of the PEB market in the GCC countries. These factors, among others, have encouraged us to continue implementing our global expansion strategy,' said Adnan Al-Mansour, President - Zamil Steel.
The first phase of the new facility was completed in the fourth quarter of last year, and small-scale manufacturing started immediately afterwards. The plant is now capable of producing 40,000 metric tons per annum of pre-engineered steel buildings, open web steel joists and floor decking. The second phase of the factory, scheduled to be operational by the end of 2007, will add an additional 12,000 metric tons per year of steel lattice towers.
The new facility is equipped with the latest and most advanced technology available. Complete technical, engineering and administrative departments are also available to meet customer requirements in a comprehensive manner. The new plant has also been integrated into the Zamil Industrial Investment Company's (ZIIC) IT network, streamlining the production and delivery processes of the finest quality steel products.
'ZS RAK mainly serves the UAE market, as well as neighboring Gulf countries. It is a crucial addition to our international network of manufacturing facilities and will help us continue to meet the demands of our customers with the same level of quality and dependability they have come to expect from us,' concluded Adnan Al Mansour.
About Zamil Steel Industries (www.zamilsteel.com)
Founded in 1977, Zamil Steel (ZS) is a global leader in the manufacture of pre-engineered steel buildings and the Middle East's premier supplier of structural steel products and process equipment, transmission and telecommunications towers. Zamil steel operates a joint venture between Zamil Industrial Investment Company and Steel Plus, a subsidiary of Canam Group, Canada, called Canam Asia Ltd. (CAL), to design and fabricate open web steel joists and roof and floor steel decks.
ZS manufactures a total 250,000 MT of fabricated steel per annum of low rise and high rise steel buildings and structures for diverse industrial, commercial, agriculture, aviation, entertainment and military applications and support of infrastructure and development projects. Zamil Steel's products are sold in more than 80 countries through an international network of dedicated sales and representative offices, certified builders, agents and distributors.
Zamil Steel's main factories are based in Dammam, Saudi Arabia. Additional factories are located in Egypt, Vietnam and Ras Al Khaima (UAE). More than 600 engineers are employed in its engineering departments in Saudi Arabia, Jordan, Egypt, Vietnam and India.
ZSI is one of four sector businesses of Zamil Industrial Investment Company.
About Zamil Industrial Investment Company
Zamil Industrial Investment
Company (ZIIC) was founded in 1998. It is
headquartered in Dammam, Kingdom of Saudi
Arabia, and employs more than 6,800 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 2006, ZIIC posted turnover of SAR 2.87 billion/USD 764.7 million, a growth of 21% over 2005, with net profit, after Zakat contribution, of SAR 191.7 million/USD 51.1 million. Post Zakat Earnings Per Share during 2006 grew to SAR 4.26/USD 1.14 from SAR 2.36/USD 0.63 representing 80.2 percent growth. Shareholders' equity grew by 26.2% to SAR 741.5 million/USD 197.7 million. Export sales accounted for SAR 1105.6 million/USD 294.8 million representing 39% of total revenues and 18.4% growth over 2005. ZIIC exports to more than 80 international markets.
ZIIC shares are actively traded on the Saudi Stock Market. More information can be found at www.ziic.com .