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ZIIC acquires Italian
A/C manufacturer
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Dammam, Kingdom of Saudi Arabia
ZIIC will hold 70% majority ownership.
"The move promises to significantly raise ZAC's strategic growth
and business acumen and enhance the company's evolution from its
origins as a residential and light commercial a/c manufacturer to
today's provider of all inclusive comfort solutions with a stronger
hold in the last tier of the heavy commercial sector," said Ahmed
Al Zamil, president, Zamil Air Conditioners.
As a result, ZAC's air conditioning solutions now include a complete
and advanced range of air handling units and chillers with capacities
of up to 600 tons of refrigeration.
Following close on the heels of another contributing addition to ZAC's
business just a year ago in Austria of an air moving product
manufacturer, Climatic, this latest addition to the ZIIC portfolio is
evidence of the company's aggressive drive forward to grow ZAC's
position as a leading provider of quality air conditioning equipment
in the Middle East, Europe and North Africa, in this case of
industrial units.
Abdullah Al Zamil, senior vice president of Dammam-based Zamil Air
Conditioners, speaking at a press conference in Italy recently, said,
"This key addition to our A/C network, as a manufacturer of the
highest quality chiller products, complements our existing base and
closes the loop of the commercial air conditioning technology we
require to produce the best possible products. The key addition
of this new enterprise will greatly complement our existing range,
adding significant synergy to our operations.
"Our customers will have access to an even wider range of
advanced compression technologies, more choices of alternative
refrigerants and advanced electronic controls," he added.
As in the case of Climatic, Geoclima will add to ZAC's Saudi Arabian
manufacturing infrastructure, in terms of combined R&D, a pooling
of resources, and a common platform for product technology.
More about Geoclima: Geoclima's expertise lies in the production of
both air and water cooled chillers, used as components of commercial
and industrial air conditioning to provide both flexibility and
optimal operating costs. It is a privately held design and
manufacturing entity producing systems of 10 to 600 tons of
refrigeration
More about ZIIC: One of the leading active industrial companies in the
Middle East with current global operations stretching out over 55
countries worldwide, Zamil Industrial Investment Co. networks through
34 representative hubs in the Middle East, Europe, the USA and South
East Asia. The Saudi joint stock company is focused on strengthening
its core competencies and production in three building services areas:
steel structures, air conditioning products and services and advanced
glass panes.
Besides organic growth, ZIIC is focused on expanding through
alliances, mergers and acquisitions in addition to the buildup of new
facilities.
Furthermore, ZIIC aims to provide greater synergies amongst those
three building sectors through bundling and common platforms in
knowledge, distribution, and customer relationships.
This multidimensional interaction is one of the keys to ZIIC's recognized
strong role in building the industrial segment of the Saudi economy.
The company owns factories and plants for all facilities in Dammam, in
addition to steel plants in Egypt and Vietnam; and A/C plants in
Austria and now in Italy.
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