Zamil Steel has announced the appointment of Adnan A. Al Mansour as President. He assumes this role from his previous position as Executive Vice President where he is credited with steering the growth of Zamil Steel during the last three years.
According to Mr. Khalid Al-Zamil, Managing Director of Zamil Industrial Investment Company (ZIIC), of which Zamil Steel is a sector business, the appointment is set to further chart the continued growth and expansion of the organization.
“Mr. Al Mansour belongs to a class of visionary leaders. An effective communicator and strategist, he has played an integral role in driving the long-term competitiveness of Zamil Steel. As President he will lead development activities to further develop and expand our business across the world,” said Mr. Al-Zamil.
Among his achievements as Executive Vice President, Mr. Al Mansour spearheaded initiatives in management and financial planning and resource allocation, which led to Zamil Steel’s record achievements for the past three years. These initiatives will continue with the added focus of accelerating the organization’s long-term competitiveness.
“I am honored to be leading Zamil Steel in my new capacity. Our focus this year will be on further enhancing our capabilities and market reach by capitalizing on our 2006 performance achievements, by making ongoing investments at all levels and by commencing operations of our new factories in the UAE, India and Vietnam, and by those of our expanded factory in Egypt,” said Mr. Al Mansour.
“Such investments strengthen our competitive resources and allow us to continue delivering the best in terms of quality, services and cost effectiveness. Our growth aspirations will be further served by the benefits of accelerated cycle times and new synergies made possible by an expanding presence and increased capabilities.”
Mr. Khalid Al-Zamil, who held the dual role of Managing Director of ZIIC and President of Zamil Steel, has relinquished his position at Zamil Steel to focus on strategic developmental activities organization-wide including those of Al Zamil Group.
Mr. Al Mansour joined Zamil Steel in 2003 as Vice President and was promoted to the position of Executive Vice President on May 1, 2005. A graduate Civil Engineer from King Fahd University of Petroleum and Minerals, he has also completed an Executive Management Program from Ashridge College, UK and an Executive Program in Strategy and Organization from Stanford University, California, USA.
About Zamil Steel Industries (www.zamilsteel.com)
Founded in 1977, Zamil Steel (ZS) is a global leader in the manufacture of pre-engineered steel buildings and the Middle East’s premier supplier of structural steel products and process equipment, transmission and telecommunications towers. Zamil steel operates a joint venture between Zamil Industrial Investment Company and Steel Plus, a subsidiary of Canam Group, Canada, to design and fabricate open web steel joists and floor decks.
ZS manufactures a total 250,000 MT of fabricated steel per annum of low rise and high rise steel buildings and structures for diverse industrial, commercial, agriculture, aviation, entertainment and military applications and support of infrastructure and development projects. Zamil Steel’s products are sold in more than 80 countries through an international network of dedicated sales and representative offices, certified builders, agents and distributors.
Zamil Steel’s main factories are based in Dammam, Saudi Arabia. Additional factories are located in Egypt and Vietnam. More than 500 engineers are employed in its engineering departments in Saudi Arabia, Jordan, Egypt, Vietnam and India.
ZSI is one of four sector businesses of Zamil Industrial Investment Company.
About Zamil Industrial Investment Company
Zamil Industrial Investment Company (ZIIC) was founded in 1998. It is headquartered in Dammam, Kingdom of Saudi Arabia, and employs more than 6,500 people in 55 countries. As an international manufacturing and fabrication group, it provides leading air conditioning, pre-engineered steel buildings, structural steel products, process equipment, transmission and telecommunications towers, open web joists and decks, architectural glass processing and fiberglass insulation solutions to meet the requirements of the global construction industry through its four sector businesses: Zamil Air Conditioners (www.zamilac.com), Zamil Steel Industries (www.zamilsteel.com), Zamil Glass Industries (www.zamilglass.com) and Arabian Fiberglass Insulation Co. Ltd. (www.afico.com.sa).
During the first nine months of 2006 net profit after Zakat contributions were SAR 154.7 million/USD 41.3 million, an increase of 76% over the same period in 2005. Total turnover was SAR 2.11 billion/USD 563.6 million, representing a 15.2% growth. Shareholders’ Equity also increased by 24.3% to SAR 709.4 million/USD 189.2 million. While Post Zakat Earnings Per Share as at end of September 2006 grew to SAR 3.44/USD 0.92. Total exports amounted to SAR 778.1 million/USD 207.5 million, representing 37% of turnover.
For the year ended 31 December 2005, ZIIC posted turnover of SAR 2.4 billion/USD 631.9 million, a growth of 20.5% over 2004, with net profit, after Zakat contribution, of SAR 106.4 million/USD 28.4 million. Post Zakat Earnings Per Share also grew by 51.6% to SAR 15.19/USD 4.05, up from SAR 10.02/USD 2.67 during the same period in 2004. Shareholders’ equity grew by 18.7% to SAR 587.5 million/USD 156.7 million. Export sales accounted for SAR 934 million/USD 249 million representing 39% of total revenues and 5% growth over 2004. ZIIC exports to more than 80 international markets.
ZIIC shares are actively traded on the Saudi Stock Market. More information can be found at www.ziic.com.
