Zamil Industrial acquired Advantec Coils

Zamil Industrial acquired Advantec Coils
Zamil Industrial, market leaders for residential, commercial and industrial air conditioning systems, announced that it has completed the acquisition of Advantec Coils. The acquisition is in line with Zamil Industrial’s strategy of investing in high growth markets like India and offering their product offerings. With this acquisition, Zamil Industrial – headquartered in Damman, Saudi Arabia, has become the first company from Saudi Arabia to enter the Indian manufacturing sector through a fully-owned subsidiary.
Zamil Industrial, which had acquired 30 per cent stake in Advantec Coils in February 2008, has bought the remaining 70 per cent stake from its joint venture partner and renamed the company as Zamil Air Conditioners India Private Limited (ZAC India) to reflect the change in ownership. The company has also launched a comprehensive range of residential, commercial and industrial air conditioners including the multiple award-winning Turbomiser series chillers, under the Zamil brand-name in the India market. With the launch, it is targeting a market-share of 10 per cent of the Rs.15,000 crore Indian air conditioner market in the next 3-5 years by offering extremely competitive prices enabled by the backward integration of its manufacturing process.

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