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ZIIC acquires Italian A/C manufacturer

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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 June 28, 2001 15:37:48