Zamil Industrial completed acquisition of Advantec Coils

April 18, 2013 12:12 pm

Zamil Industrial, one of the market leaders for residential, commercial and industrial air conditioning systems, announced that it has completed the acquisition of Advantec Coils. With this acquisition, Zamil Industrial – headquartered in Damman, Saudi Arabia, has become the first company from the Kingdom of 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 Turbomiser series chillers, under the Zamil brand-name in the Indian market. With the launch, it is targeting a market-share of 10 per cent of the ` 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.
Headquartered in New Delhi, ZAC India has two fully integrated manufacturing facilities in Nalagarh, Himachal Pradesh, with a combined installed production capacity of 1.2 million units per annum along with a state-of-the-art design laboratory backed by a strong and experienced engineering team. The product range of ZAC India currently comprises of residential and commercial air conditioners and it also manufactures international brands under OEM agreements. Following the acquisition, ZAC India would now have direct access to the parent company’s air conditioner arm, Zamil Air Conditioners in Saudi Arabia, as well as to associate companies Clima Tech/ Geoclima in Italy.