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Qatar's Aamal establishes Aamal Optical supplies

Qatar's Aamal establishes Aamal Optical supplies
Aamal
AHCS
-0.39% 0.76 -0.00
Aamal Company , one of the GCC’s fastest growing diversified Companies, along with Qatar Optics, one of Qatar’s leading companies in the optometry industry, today announces the establishment of Aamal Optical Supplies W.L.L.

Aamal Optical Supplies will be involved in the import, manufacture and distribution of prescription lenses, the import and distribution of contact lenses and other eye care products and services, and the opening of a specialised optical medical center in the near future.

Aamal Optical Supplies is a new business stream for Aamal, which will own 51% of the partnership, allowing the Company to further diversify operations and revenue channels and to capitalise on opportunities in the fast-growing optical sector. The new company is the most recent example of Aamal’s commitment to offering the highest quality products and services, ensuring that the Company maintains leading positions in its chosen business lines.

The new company has no debt funding. Its capital of QAR1 million was contributed in cash by both parties to the partnership agreement. The establishment of Aamal Optical Supplies has no effect on the financial position of Aamal Company. Sheikh Mohamed Bin Faisal Al Thani, Vice Chairman of Aamal, said: “We are glad to announce this new agreement and our partnership with an industry leader such as Qatar Optics. Qatar’s healthcare system is developing dramatically and the Qatar National Health Strategy 2011-2016 is designed to ensure that the population will enjoy world-class treatment as the number of facilities increases, new or improved services are offered to patients and healthcare opens up to more competition from the private sector. Aamal is as determined as ever to play its part in Qatar’s development and make quality investments that meet market demands.”