Zamil Air Conditioners, a business unit of Zamil Industrial and the leading international manufacturer of air conditioning systems in the Middle East, has announced the availability of its newly developed Applied Modular Packaged PRX Series of air conditioning systems. This new product line combines the results of the latest advances in climate control technology with superior engineering breakthroughs to provide a wider range of equipment alternatives for cooling industrial and commercial spaces.

The newly launched PRX series consists of Modular Packaged Air Conditioners with a range of 20 to 95 tons (70kW to 334kW) in cooling capacity. This new line features an open architectural design, offering customers the flexibility to choose their own configuration. Customers can add either a bag filter or mixing box or both, and choose from single skin or inner skin and from a one inch or two inch insulation thickness.

Additional new features render these units convenient and user friendly, such as: microprocessor based controls, high efficiency scroll and semi hermetic reciprocating compressors, enhanced heat transfer coils, independent refrigeration circuits, factory installed options including an intelligent air quality system using economizers and UV flow emitters, and easy service accessibility for all components.

Additional product advantages include unit ratings in accordance with ARI 360, small foot print, available horizontal, vertical or down air flow, and supply and return air on one side to facilitate installation.

The new PRX Series continues the long Zamil Air Conditioners tradition of technologically innovative, high quality air conditioning systems. Zamil Air Conditioners’ Applied Modular Packaged air conditioning systems have been installed and utilized in a number of high profile industrial, petrochemical and commercial projects.

Total exports amounted to SAR 744.6 million (USD 198.6 million), representing 32% of turnover. The products of Zamil Industrial's sector businesses are marketed and sold in more than 80 countries around the world.

"The release of these new and enhanced products demonstrates our continued commitment to providing our customers with a wide range of comfortable, energy efficient climate control solutions. These new packaged air conditioners will also increase the competitive advantage of Zamil Air Conditioners in today’s growing market place. We are always motivated by our dedication to provide the highest level of quality and convenience for our clients, and will continue to utilize all our engineering resources to achieve our goal of complete customer satisfaction," said Ahmed Zaatari, General Manager of Zamil Air Conditioners.

Zamil Air Conditioners, the leading Middle East manufacturer of air conditioning systems and services and a sector business of Zamil Industrial, has been awarded multiple contracts to provide custom climate control systems for King Abdullah University of Science and Technology (KAUST), located on the eastern shore of the Red Sea at Thuwal, Saudi Arabia.

The scope of the SAR 80 million (USD 21.4 million) agreements calls for Zamil Air Conditioners to supply a large number of concealed fan coil units, air-cooled condensing units, single skin air handling units, ducted split systems, approximately 3000 sets of water chilled fan coil units, and 21 sets of custom built TW Series double skin air handling systems.

Units of the TW Series measure 17.6 meters in length and 5.6 meters high, and feature top quality galvanized steel GI outer skins and specially designed aluminum inner skins with a thick bottom panel. The units also feature special dampers, coils, fans, energy wheels, sound attenuators and filters, and a control system capable of monitoring and controlling temperature, enthalpy, airflow, humidity, pressure and CO2 levels. The total cooling capacity for the project is more than 16,500 tons.

"KAUST is truly a landmark undertaking for Zamil Air Conditioners. Competition for the contracts included the world's best providers of air conditioning systems. Zamil Air Conditioners emerged as the winner due to our unique ability to satisfy the most stringent climate control specifications and timeline requirements," said Ahmed Zaatari, General Manager of Zamil Air Conditioners.

The KAUST campus is located on the Red Sea at Thuwal, 80 kilometers north of Jeddah. Due to be completed in September 2009, the complete academic and residential compound will feature regional architectural design blended with modern amenities and style, linking historical educational tradition to today's vital disciplines of high tech science and engineering. The University will offer world-class interdisciplinary graduate research programs in Resources, Energy and Environment, Biosciences and Bioengineering, Material Science and Engineering and Applied Mathematics and Computational Science.

Osama Bunyan, Executive Vice President of Zamil Air Conditioners, commented, "We are pleased to become an integral partner in the mission to establish KAUST as a world class educational research institution. We will bring all of our corporate resources to bear as we participate in the realization of the vision of King Abdullah, to provide an environment that will facilitate the work of researchers and scientists from around the globe using advanced scientific and technological capabilities to the benefit of all mankind."

Zamil Industrial, an international manufacturing and fabrication group, announced the launch of a new 50:50 joint venture with Hudson Products Corporation - through its affiliate Hudson Products Middle East LLC, a world leading manufacturer of Air Cooled Heat Exchangers. The total investment in this venture is SAR 75 million (USD 20 million).

The partnership, which will operate from Dammam, Saudi Arabia, will focus on the manufacture, assembly and maintenance of Air Cooled Heat Exchangers serving utility, petroleum, chemical, oil and gas processing and industrial customers in the Middle East, Africa, and central Asia.

Mr. Christopher F. Yunkun, President and Chief Executive Officer of Hudson Products Corporation, commenting on the venture, stated, "I'm very pleased to partner with Zamil Industrial. Surely this new joint venture will benefit from the company's solid regional and international reputation, customer relationships, manufacturing expertise and service capabilities. The partnership places our companies in a position to meet growing and changing industrial product needs across the region for today and well into the future."

"Hudson Products Corporation is a recognized world leader in the heat transfer equipment industry. The company has a broad base of experience, gained during a history exceeding 65 years. The joint venture enhances Zamil Industrial's flexibility and strength, empowering the company to continue manufacturing the highest quality cooling systems for industrial applications," said Abdulla Al Zamil, COO at Zamil Industrial.

"Air Cooled Heat Exchangers do not require water, which means that plants requiring large cooling capacities need not be located near a supply of cooling water. This is a distinct advantage in our target markets where water supply is scarce. Manufacturing and service operations for the joint venture will be undertaken by Zamil Air Conditioners and Zamil CoolCare," added Abdulla Al Zamil.

"As the largest HVAC supplier and service provider in the Middle East, Zamil Air Conditioners and Zamil CoolCare will form the cornerstone of this joint venture. Our manufacturing expertise and service support will enable the joint venture to immediately cater to the needs of our expanding customer base," said Osama Bunyan, Executive Vice President, Zamil Air Conditioners.

Zamil Industrial, the leading Middle East and international manufacturer of building materials, has announced a new Joint Venture with Armacell International Holding GmbH of Germany to jointly produce rubber insulation products in the Middle East region.

This joint venture marks a major investment and commitment by the two partners to serve the growing building and construction industry in the GCC and Middle Eastern markets.

The manufacturing facility for the new JV will be located in Dammam, Saudi Arabia, and will produce engineered plastic foams and related accessories & sundries. The total investment value for this new JV will amount to approximately SAR 100 million. Zamil Industrial will own 49 percent share in this new company.

"This Joint Venture with Armacell demonstrates our commitment to serving our home market with technologically advanced insulation products that are globally acclaimed for high quality and high performance", said Abdulla Al Zamil, Chief Operating Officer, Zamil Industrial, upon signing the agreement that was held on Monday 7 April 2008 in Dammam, Saudi Arabia.

Mr. Ulrich Weimer  President and CEO of Armacell, stated "We are very happy to join forces with Zamil Industrial. Speed to market, conducting business at high ethical levels and creating value for customers, these principles are shared by both companies and will guarantee growth and success for the new joint venture in the future".

Zamil Industrial has announced its interim financial results for the first three months ending 31 March 2008 showing a marked increase over last year, in a statement released by Khalid A. Al Zamil, Managing Director.

During the first three months, net profits after Zakat contributions were SAR 50.4 million (USD 13.4 million) compared to SAR 44.9 million (USD 12 million), representing an increase of 12.3 percent over the same period in 2007.

Total turnover for the group was SAR 1,007.9 million (USD 268.8 million), a growth of 23.6 percent compared with same period last year. Shareholders' Equity also increased by 20.8 percent to SAR 864.6 million (USD 230.6 million).

Zamil Industrial operating profits, on the other hand, posted an increase of 11.9 percent from SAR 61.8 million (USD 16.5 million) in 2007 to SAR 73.6 million (USD 19.6 million) as at 31 March 2008.

Post Zakat Earnings per Share grew to SAR 1.12 (USD 0.30) from SAR 1.00 (USD 0.27) representing 12.3 percent growth.

Zamil Industrial signed a new joint venture agreement with Rabiah and Nassar Group on Wednesday, 9 April 2008 for this agreement whereby Zamil Industrial acquires 50 percent shares in Rabiah and Nassar Precast Concrete factory (RANCO Precast), based in Riyadh, Saudi Arabia.

The total investment value in this factory is SAR 117 million (USD 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 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 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

Zamil Air Conditioners, a sector business of Zamil Industrial and the leading Middle East and international manufacturer of air conditioning products, has announced a new Joint Venture with Advantec Coils Private Ltd., India. Zamil Air Conditioners recently acquired 30% of Advantec equity for a total amount of about SAR 59 million (600 million Indian Rupees).

Advantec Coils Private Ltd. is a fast growing air conditioning manufacturer and one of the few companies in India to operate a completely integrated manufacturing facility -from plastic injections to assembly. The Advantec facility has an installed production capacity of 1.2 Million units per annum. The company has demonstrated an impressive growth rate over the years and has a solid distribution network for its own brands. It also manufactures international brands under Original Equipment manufacturer agreements (OEM).

This joint venture marks the first major investment by a GCC air-conditioning company in India.

India is an emerging economy with long term potential. With a low level of Air conditioning penetration, Indian is one of the fast growing Air Conditioning markets in the world with average growth rate of 20% per year. Market growth has averaged about 20% per annum. The consumer air conditioning market is estimated to be around three million units and it is projected to increase to seven million units in the next five years. An overall boom in all sectors of the economy combined with growth in the real estate sector and SEZs (Special Economic Zones) continue to drive the demand for consumer as well as commercial air conditioning products.

Our Joint Venture with Advantec Coils demonstrates that at Zamil Industrial, we are fully committed to a solid and long term investment in the Indian market. We are very bullish about the opportunity and we are now positioned to take full advantage of the market conditions with our new partner Advantec, said Abdulla Al Zamil, Chief Operating Officer, Zamil Industrial, upon signing the agreement. Mr. G.P. Singh, Founder & Managing Director of Advantec, commented that he is very happy with this association and Joint Venture with an International player like Zamil and excited about the future prospects for the company.

From our Saudi business perspective, this JV in India strengthens our long term competitiveness and adds to our flexibility and capacity to offer a wide range of top quality products and solutions to our customers, commented Osama Bunyan, Executive Vice President, Zamil Air Conditioners.