ZAMIL’S SUBSIDIARY OPENS NEW FACTORY

Arabian Fiberglass Insulation Co. Ltd. (AFICO), a member company of Gulf Insulation Group, a sector business of Zamil Industrial Investment Co. (Zamil Industrial), inaugurated its new state-of-the-art manufacturing facility located in Dammam Second Industrial City on Tuesday, 28 May 2013. Commercial production commenced and will gradually ramp up capacity. The company will realize the retturns from Q3 2013 onwards. 

AFICO, a joint venture with Owens Corning, USA, plans to focus mainly on markets in the GCC countries and the location of the new facility in Saudi Arabia will enable the company to respond more quickly and efficiently to customer demand for a flexible supplier with the capability to deliver customized product within even the most stringent deadlines. 

Abdulla M. Al Zamil, Chairman of the Board of AFICO and Chief Executive Officer of Zamil Industrial, noted that the new factory was completed at a cost of about SAR 190 million (USD 50 million). He praised the continuous efforts made by HRH Prince Abdulaziz bin Salman bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs and Chairman of the Administrative Committee of Saudi Energy Efficiency Program, to rationalize and raise energy consumption efficiency in the Kingdom and his initiatives to support the energy conservation programs. Al Zamil also commended the new regulation that demands the installation of thermal insulation in buildings, which is expected to significantly contribute to achieving the desired objectives of this program. 

The new factory has an installed capacity of 24,000 MT, increasing the companys total manufacturing capacity in its combined plants to 37,000 MT. The new plant will manufacture products primarily for use in the HVAC, Pre-engineered Building (PEB), and building envelope segments of the construction industry. The additional production capacity will also enable AFICO to introduce energy-efficient, environmentally friendly fiberglass insulation products to the marketplace, which are expected to assist local governing authorities in the GCC countries with ongoing efforts to implement more stringent building code requirements aimed at increased energy efficiency and fire safety standards. 

AFICO has been a leading regional manufacturer of premium fiberglass insulation products since 1982, utilizing the know-how and technical specifications of Owens Corning Corporation of USA under license.