AMIANTIT CEO OPENS NEW DAMMAM HQ BUILDING FOR GRE DIVISION

State-of-the art working environment symbolizes Amiantit Groups global growth and strategic expansion

Dammam, June 2006 – Amiantit President & CEO Eng. Fareed Al-Khalawi has officially opened the new headquarters building of the Amiantit Group's GRE Division which manufactures glass reinforced epoxy (GRE) pipes for the oil, gas and petrochemical industries.
The modern structure has been designed to provide a state-of-the-art working environment for GRE Division management and administrative staff and includes hi-tech conference facilities and a fully computerized engineering work area.

Following the inauguration ceremony, Eng. Al-Khalawi said " Amiantit's GRE Division was established in Dammam in 1982 with a company called Bondstrand Limited, a joint venture between Amiantit and Ameron International, to meet the specific demands of Saudi Arabia's oil industry and has grown in parallel with the Kingdom's diversification into petrochemical products and, more recently, its development of natural gas resources. At the same time, Amiantit GRE products serve the needs of other oil-producing states in the GCC and the Middle East and have become a significant contributor to the Kingdom's export drive. Today, the GRE Division is a key component in the Amiantit Group's manufacturing structure and this splendid new headquarters building stands as a symbol of Amiantit's progressive policy of strategic global expansion, both geographically and in terms of diversifying its range of products and services."

To meet the region's growing demand for GRE pipes, Amiantit GRE began stepping up production in 2003, doubling output by the end of 2005 when annual capacity reach 9000 metric tons. The two manufacturing facilities in Dammam, Bondstrand Limited and the newly commissioned Amipox factory which is wholly owned by Amiantit, use respectively Ameron technology and Amiantit-owned Amipox technology to produce a range of GRE pipes, fittings, flanges and spools that are made from high quality, fiberglass- reinforced, thermosetting epoxy-resin.

GRE pipes are corrosion resistant, lightweight, and easy to handle and install, and have a smooth internal surface that reduces friction and enables a high pipe flow capacity. The low thermal conductivity of GRE pipes relative to steel (only one per cent of steel values) minimises the cost of insulation and heat loss. Another major benefit of GRE pipes is that, once they are installed, they are virtually maintenance-free.

GRE pipes are well suited for environments where corrosion resistance is required at a reasonable price. Main uses include petrochemical process lines, oil and gas systems, fire-fighting systems, offshore and onshore systems, and ship and marine applications.

Amiantit President & CEO Eng. Fareed Al-Khalawi cuts the ribbon to open the industrial group's new GRE HQ building in Dammam.

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