Aamal Company Establishes Aamal Optical Supplies
Aamal Company Establishes Aamal Optical Supplies
Doha, Qatar, 20 October 2014– Aamal Company Q.S.C., 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 QAR 1 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.”
Tarek M. El Sayed, Managing Director of Aamal, added: "Aamal has achieved sustained growth over the past few years either through establishing new ventures or developing its existing operations. We pride ourselves on being able to capture business opportunities that add value to our Company and its stakeholders. Our diverse operations give us exposure to multiple high growth sectors in Qatar and we are positive that this venture will be another success, providing high quality products and services.”
ENDS
About Aamal
Aamal Company is one of the GCC’s fastest growing diversified companies, delivering a compound annual growth rate in net profit in excess of 15% before fair value gains on investment properties from 2006-13 and generating revenues of QAR 2,123m (US$583m) in 2013. Focused on sustained, profitable growth and strongly diversified for balanced exposure across Qatar’s rapidly growing economy, Aamal’s operations comprise 23 business units with market leading positions in the key industrial, retail, property, managed services and medical equipment and pharmaceutical sectors. Aamal is one of the largest diversified companies quoted on the Qatar Exchange, having been listed since December 2007.
For further information on Aamal Company, please refer to the corporate website: http://www.aamal.com.qa
Further Enquiries
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Aamal Company |
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Arwa Goussous |
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