Ameron forms fibreglass pipe JV in Kuwait

Dec 03, 1999 01:00 AM

Ameron International Corporation announced that through its joint-venture company in Saudi Arabia, Bondstrand, Ltd., a new joint-venture company, has been established in Kuwait. The company, Bondstrand Kuwait Ltd., will manufacture and sell fibreglass pipe in Kuwait under license from Ameron. Ownership of the company, in addition to Bondstrand, Ltd., includes Al-Watani Factory and Nouri Industrial Est., both located in Kuwait City. Bondstrand, Ltd. is jointly owned by Ameron and the Saudi Arabian Amiantit Company.
James Marlen, Ameron Chairman, President and CEO, stated, "The demand for fibreglass piping in oilfield and industrial applications in Kuwait is growing. Formation of Bondstrand Kuwait, Ltd. provides direct, economical access to serve this important market." The joint venture will start up in January 2000. The operation will utilise state-of-the-art equipment designed by Ameron. Bondstrand Kuwait, Ltd. will produce fibreglass piping using the same high-quality, Ameron standards currently used by plants in Saudi Arabia, Holland, the U.S., Singapore, Malaysia and Indonesia.
Marlen stated, "Given the successful relationship Ameron has had with our joint-venture partner in Saudi Arabia, we are optimistic about the long-term opportunities in Kuwait." Ameron International Corporation is a multinational manufacturer of highly-engineered products and materials for the industrial, chemical, oil and construction markets.

Ameron is a leading producer of high-performance coatings; fibreglass-composite piping; concrete & steel pipe systems and specialised construction products. The Company operates businesses in North America, South America, Europe, Australasia and Asia. It also participates in several joint-venture companies in the U.S., Saudi Arabia and Mexico.

Source: Business Wire
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