Gulf Insulation Group is a subsidiary of the Zamil Industrial Investment Company, a Saudi Arabian public company and one of the largest industrial groups in the Middle East. The JV will be 60% controlled by Perma-Pipe International Holdings, Inc. and 40% by Gulf Insulation Group through their subsidiaries, respectively.
Formation of the JV is subject to approval of the Kingdom of Saudi Arabia General Authority for Competition.
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region commented, “I am pleased to partner with Gulf Insulation Group to combine our strengths and better serve our customers through new products and expanded services and capabilities.”
Dave Mansfield, President and CEO commented, “The Zamil Group is a trusted name in the Middle East. We are fortunate to partner with a quality organisation that serves both coatings and construction markets.”
