Saudi Arabian Amiantit Company

The Saudi Arabian Amiantit Company (Amiantit) is a Saudi joint-stock company listed on the Saudi Stock Exchange 'Saudi Tadawul'. It was established in 1968, with its headquarters located in Dammam City. It is considered the first pipe manufacturing plant in the Arab world. The company has developed into a diversified industrial group with products, factories, and sales centers across the globe.

The company was listed on 'Saudi Tadawul' on May 1, 1996, and its shares are traded on the main market under the capital goods sector, symbol (2160), name (Amiantit), and International Securities Identification Number I(SIN) (SA0007879337). As of March 1, 2022, the company's capital stands at SAR99 million.

The Saudi Arabian Amiantit Company owns twenty-one companies, of which eighteen are wholly owned (100 percent), operating in the sector of water project and desalination plants management and maintenance, production of rubber gaskets and materials for pipes, establishment, management, and maintenance of water and sewage treatment plants, and design and installation services inside and outside the Kingdom of Saudi Arabia.

The Saudi Arabian Amiantit Company was established in 1968 in Dammam City, as a limited liability company for the manufacturing of pipes, tanks, and rubber materials. After several years, the company established a group of subsidiaries. on January 18, 1994, the company was converted from a limited liability company into a Saudi joint-stock company pursuant to the Minister of Commerce Resolution No. (886), and its shares began trading on May 1, 1996. In 1997, Amiantit began pursuing an expansion policy into neighboring countries, such as the Gulf Cooperation Council (GCC) states and other countries. In 2001, Amiantit acquired the world's largest fiberglass pipe manufacturing group (Flowtite), which had operations in most European, African, South American, and Asian countries. Additionally, the Flowtite group owned and licensed fiberglass pipe manufacturing technology to others. In 2017, Flowtite merged with the European Hobas group, specializing in the manufacturing of fiberglass pipe produced with centrifugal casting technology, forming a new entity called (Amiblu) with a 50 percent stake for each Flowtite and Hobas.

The Saudi Arabian Amiantit Company (Amiantit)'s main activity involves the manufacturing of pipes, tanks, and fittings, owning technology, and manufacturing machinery for pipes, as well as water project management and contracting.

Amiantit provides services to several sectors, including water transmission and distribution, desalination, oil and gas, energy and petrochemicals, public utilities and municipalities development, and others.

The group's core commercial activities include the following services: manufacturing technology for various piping systems, developing pipe technology and water solutions, providing management and hydraulic engineering consultancy, manufacturing tank system products, valves, water wells, inspection chambers, and rubber components.