A strong showing in the air conditioning and steel sectors helped Saudi manufacturing and fabrication group Zamil Industrial Investment Company (ZIIC) make a net profit of SR50.3 million ($13.4 million) for 2003, a 10.9 per cent increase over 2002.

The turnover for the year advanced 10.5 per cent to SR1.55 billion.  The group also has a glass manufacturing business.
“The sustained growth in the air conditioning sector was attributed to winning major contracts in Saudi Arabia and abroad, with remarkable performance by our ‘Cooline’ brand in foreign markets,” said ZIIC chairman Dr Abdulrahman Al Zamil, chairman.
“The steel sector posted good results through our three business units in Dammam, Saudi Arabia, as well as through Zamil Steel’s operations in Egypt and Vietnam, which continue to focus on sales to neighboring countries.”
ZIIC, founded in 1998, is headquartered in Dammam, and employs more than 5,000 people in 50 countries.
As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, transmission towers, open web joists and decks, and architectural glass processing solutions to meet the requirements of the global construction industry through its three sector businesses: Zamil Air Conditioners, Zamil Steel Industries and Zamil Glass Industries.
ZIIC exports to more than 75 markets and derives around 40 per cent of revenues from outside Saudi Arabia.
ZIIC’s shares have been actively traded on the Saudi equity market since early 2002.