Established in terms of Royal Decree M/29 of 18 October 2000 (22 Rajab 1421 Hijra) as a joint-stock company, Marafiq is owned by its four major shareholders – the Royal Commission for Jubail and Yanbu (RC), Saudi Basic Industries Corporation (SABIC), Saudi Arabian Oil Company (Saudi Aramco), and the Public Investment Fund (PIF). Seven private-sector investors make up the remaining shareholders. Marafiq started operating as a private power and water utility company on 1 January 2003, with SR 2,5 billion of initial owner equity.
In 1961 PERMA-PIPE was started as a division of the Midwesco Company in Chicago to manufacture steam and condensate piping systems for the District Heating Industry. Since that time, PERMA-PIPE has become the largest manufacturer of specialty piping systems for secondary containment and district heating and cooling in the United States, and a Global Leader operating six (6) manufacturing plants worldwide serving not only District Heating and Cooling, but also Oil & Gas and Industrial & Environmental applications. PERMA-PIPE became a public company in January of 1994 as a subsidiary of MFRI, Inc. and is traded on the NASDAQ National Market under the symbol “MFRI”.
From its start in 1909 through 1993, Ricwil Inc.manufactured district heating and cooling systems and heat traced piping systems as the brand-name leader in the preinsulated piping industry. In 1994, PERMA-PIPE acquired Ricwil. The acquisition merged years of design expertise and proven products to satisfy the expanding needs of PERMA-PIPE’s customers.
The industrial environmental marketplace is served by offering process piping, secondary contained piping, and leak detection/location systems through PERMA-PIPE/RICWIL industrial and environmental product Group. Process and secondary containment piping are important products for chemical plants, jet fuel systems, nuclear facilities and the food and beverage industries. We can also design our systems with a broad range of heat tracing options that include steam, fluid and electric. PERMA-PIPE’s “Skin Effect” heat tracing system provides a cost effective solution for long runs of pipe that require consistent heat monitoring.
Our dream is to become Number 1 in comprehensive drive technology.
As a part of Nidec Group, Nidec ASI S.p.A. shares this slogan. Our customer dedication, our 160-years of know-how and experience and the technical excellence of our products are aimed at not only at achieving this goal but also at making a difference in the larger community. Nidec ASI recognizes that we all dream of living and working in a better, safer and healthier environment. In our dream to become number one, we must never forget our commitment to improving society.