Saudi Arabian Amiantit Co (2160)

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News

11 December 2017 02:00 PM Amiantit’s stock hits highest level in 1.5yrs Monday

Riyadh – Mubasher: Saudi Amiantit Group’s stock on Monday rose 4.3% to SAR 8.55 on the Saudi Stock Exchange (Tadawul), touching its highest level in one year and half since 22 May 2016 trading session, by 1:30 pm KSA time. The stock extended its …

Trading Activities

6 December 2017 05:55 PM Amiantit-SISCO unit inks water utility deal with Modon

Riyadh – Mubasher: Saudi Industrial Services Co. (SISCO) on Wednesday announced the signing of a water utility services deal by its affiliate the Saudi International Water Distribution Company (TAWZEA), the Saudi Industrial Property Authority …

Companies Investments

10 October 2017 03:09 PM Two private deals on Advanced Petrochemical, Amiantit stocks total SAR 5.92m

Riyadh – Mubasher: Two private transactions were executed on the stocks of Advanced Petrochemical Company, and Saudi Amiantit Group on Tuesday on the Saudi Stock Exchange (Tadawul) totaled SAR 5.92 million. Advanced Petrochemical Company’s …

Trading Activities

29 August 2017 00:31 PM Amiantit stock hits highest growth rate in 12 sessions

Riyadh – Mubasher: Saudi Amiantit Group’s stock on Tuesday went up 5.2%, by 11:41 am KSA time, registering its highest growth rate in twelve trading sessions. The stock reached SAR 6.94, after 4.69 million shares were exchanged through 1,730 …

Trading Activities

29 August 2017 10:53 AM Amiantit forecasts SAR 50-60m profits after merger with Austrian Hobas

Riyadh – Mubasher: Saudi Amiantit Group expects that it will generate profits estimated between SAR 50 million and SAR 60 million after its merger with Austria-based WIG Wietersdorfer Holding GmbH (Hobas). The Saudi firm on Monday completed most …

Corporate Actions

6 August 2017 02:46 PM Amiantit stock hits highest level since January 2016

Riyadh – Mubasher: Saudi Amiantit Group’s stock levelled up during Sunday’s trading activities, registering its highest level since 29 January 2016, after the European Commission approved the company's joint venture (JV) agreement with …

Trading Activities

6 August 2017 10:39 AM European Commission OKs Amiantit, Austrian Hobas JV

Riyadh – Mubasher: The European Commission specialised in business mergers approved the joint venture (JV) agreement between Saudi Amiantit Group and Austria-based WIG Wietersdorfer Holding GmbH (Hobas), according to a statement. This merger aims …

Mergers and Acquisitions

8 May 2017 05:21 PM Amiantit swings to losses in Q1

Riyadh – Mubasher: Saudi Arabian Amiantit Company tuned into losses in the first quarter of 2017, according to a bourse filing. The company reported net losses of SAR 45.75 million ($12.2 million) in Q1-17, against net profits of SAR 512,000 …

Financial Results

27 February 2017 09:18 AM Amiantit shareholders equity down SAR 157.7m on IFRS conversion

Riyadh – Mubasher: Saudi Arabian Amiantit Company said that shareholders equity decreased SAR 157.7 million as of 1 January and SAR 134.2 million as of 31 December 2016 as a result of converting to IFRS. The company noted that all International …

Management Decisions

13 February 2017 10:14 AM Appeal court revokes ruling against Amiantit's unit

Riyadh – Mubasher: Saudi Arabian Amiantit announced that the Appeal court entirely revoked the First Instance Court judgment which was issued against PWT and further totally dismissed the claim of the subcontractor. Amiantit's subsidiary PWT had …

Management Decisions

6 February 2017 05:57 PM Amiantit inks JV to merge businesses in Europe

Riyadh – Mubasher: Saudi Arabian Amiantit signed a joint venture agreement with the Austrian holding WIG Wietersdorfer Holding GmbH (WIG) on Monday. Under the agreement, WIG's European pipe manufacturing and sales companies and its Flowtite …

Companies Investments

18 January 2017 00:19 PM Amiantit turns to losses in Q4

Riyadh – Mubasher: Saudi Arabian Amiantit Company achieved net losses of SAR 193.91 million ($51.71 million) in the fourth quarter of 2016 versus net profits of SAR 22.47 million ($5.99 million) in the year-ago period. The loss was attributed to a …

Financial Results

15 January 2017 02:27 PM Amiantit: Appeals court revokes judgement against subsidiary

Riyadh – Mubasher: Saudi Arabian Amiantit on Sunday stated that the claim raised against its wholly-owned subsidiary PWT by a subcontractor regarding a project in Iraq has been “entirely revoked” by the Court of Appeals on Thursday, 12 January …

Law

18 December 2016 09:29 AM Amiantit inks MoU with Austria’s WIG

Riyadh – Mubasher: Saudi Arabian Amiantit Company announced on Sunday the signing of a Memorandum of Understanding (MOU) with the Austrian holding WIG Wietersdorfer Holding GmbH (WIG) to discuss a possible merger of its European pipe manufacturing …

Companies Investments

30 August 2016 05:01 PM Amiantit finishes Nov equity transfer in Ameron

Riyadh – Mubasher: Saudi Arabian Amiantit Co. announced on Tuesday that it has completed the regulatory procedures for the ownership transfer of US based group NOV’s 30.3% stake in Ameron Saudi Arabia Limited (ASAL). In June, Amiantit signed a …

Mergers and Acquisitions

24 August 2016 05:57 PM Amiantit declare readiness for IFRS conversion

Riyadh - Mubasher: Saudi Arabian Amiantit Co. announced its readiness of the conversion of its financial statements to IFRS, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday. A Transition plan was already …

Management Decisions

27 July 2016 03:24 PM Amiantit Q2 profit declines 87%

Riyadh-Mubasher: Saudi Arabian Amiantit Company’s net profit dropped 87% to SAR 3.3 million ($880,000) in the second quarter of 2016 from SAR 110 million ($6.9 million) in the same period of 2015. The decrease in net profit was attributed to a …

Financial Results

5 April 2016 10:55 AM Amiantit shareholders approve dividends

Riyadh-Mubasher: The shareholders of Saudi Arabian Amiantit Company gave the go-ahead to 6.5% cash dividends for 2015, according to a bourse statement. The dividends stand at SAR 0.65 per share, totalling SAR 75.07 million. Shareholders of record …

General Assembly

14 March 2016 08:54 AM Court turns down Amiantit’s unit appeal in Iraq lawsuit

Riyadh-Mubasher: Saudi Arabian Amiantit said on Monday Iraq’s Rasafa Federal Appeal Court has rejected the appeal of wholly-owned, Germany-based subsidiary PWT GmbH and confirmed the judgment issued on 3 January 2016. PWT, which operates in …

Companies Investments

13 March 2016 09:33 AM Amiantit expects court ruling for German subsidiary next week

Riyadh-Mubasher: Saudi Arabian Amiantit Co. forecasted its German subsidiary PWT GmbH  to be judged on 10 March in the claim raised against it by a subcontractor relating to a project in Iraq. Amiantit said it has not received any notification …

Companies Investments

6 March 2016 05:18 PM Amiantit says subsidiary lawsuit adjourned until 10 March

Riyadh-Mubasher: Saudi Arabian Amiantit said the lawsuit filed against its Iraqi subsidiary was adjourned until 10 March, according to the company’s statement to the Saudi bourse. The company earlier said it will request the appointment of nine …

Corruption

23 February 2016 05:07 PM Amiantit says subsidiary lawsuit adjourned until 6 March

Riyadh-Mubasher: Saudi Arabian Amiantit said the lawsuit filed against its Iraqi subsidiary was adjourned until 6 March, according to the company’s statement to the Saudi bourse. The company will request the appointment of nine exports from the …

Event

14 February 2016 04:14 PM Amiantit proposes 74% FY15 dividends

Riyadh – Mubasher:  The board of Saudi Arabian Amiantit recommended distributing SAR75.1 million as cash dividends for 2015 or 6.5% of the share’s par value. According to Mubasher data, this pay-out equates 74% of FY15 profits that reached …

Cash Dividends

20 January 2016 11:11 AM Amiantit’s net rises 13% in Q4, 23% in FY15

Riyadh-Mubasher: Saudi Arabian Amiantit Co. recorded net earnings of SAR 22.4 million in Q4-15, a rise of 13% compared with SAR 20 million in the same period of 2014. FY15 bottom line jumped 23% year-on-year from SAR 83 million to SAR 101.3 …

Corporate Actions

19 October 2015 08:57 AM Amiantit earnings rise to SAR 27m in Q3

Riyadh-Mubasher: Saudi Arabian Amiantit posted net earnings of SAR 27 million for the third quarter ended 30 September, leaping 54% compared with SAR 17.5 million a year earlier. Nine-month net income rose 26% year-on-year from SAR 63 million to …

Corporate Actions