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Amiantit invests heavily in Norwegian composite company

News International-French

22 Jan 2014

The Saudi Arabian Amiantit Company (Amiantit) is investing USD 10 million in its Norwegian research centre, Flowtite Technology AS, a company dedicated to develop pipes in fiberglass/composite.

Increase focus on technology development
The investment is a result of the group's ambition to focus even more on research and development in its product technologies. Their strategy is to build expertise and develop further the technology centre in Norway. They have a unique research and development community, with world-class expertise, where 10 nationalities are represented. They also cooperate closely with various universities and institutions in several countries.

“The recent investment is a further step from the 4 million USD investment made in 2012 when the company opened the Research and Development Centre located at King Abdullah Industrial Research Complex at Dhahran Technology Valley.

The two centres in Saudi Arabia and Norway work closely together in the group, and in addition provide required technical support for the pipe production facilities. The technology is currently exported all over the world, says CEO of Flowtite Technology, Tomas Andersson.

Global market
Flowtite and Amiantit have seen healthy development in recent years. One of the reasons is a continual need for the technology, products and services in major water projects in many countries.

Technology development decisive for the industry
Amiantit is a manufacturers of pipe systems, and the owner of several pipe technologies of which Flowtite GRP (Glassfiber Reinforced Plastic) is the largest. The group is listed on the Riyadh stock exchange in Saudi Arabia and has an annual turnover of USD 1 billion. The company has operations in more than 70 countries and has 25 factories for pipe production. Flowtite GRP pipes are manufactured at almost all these factories, based on the technology provided by Flowtite in Norway.

Provides infrastructure all over the world
Flowtite GRP pipes have been used in some of the world's largest projects for water, drainage, power plants and industrial applications. In addition to the research and development of GRP, Flowtite Technology also builds the factories that produce the pipes.