Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Pultron Composites signs MoU with oil giant, Saudi Aramco


Pultron Composites signs MoU with oil giant, Saudi Aramco
GISBORNE, NEW ZEALAND [3 December 2019]. Pultron Composites, based in Gisborne, New Zealand alongside its subsidiary company, Mateenbar in Dubai are pleased to announce a joint Memorandum of Understanding with oil giant, Saudi Aramco.

Pultron has a long-standing reputation of success in innovation and industry-firsts using pultrusion technology. Mateenbar™ is one of their great success stories, an industry-approved glass fibre-reinforced polymer (GFRP) rebar. Mateenbar™ is corrosion-free and lightweight. It provides a longer lifespan and minimal life cycle costs compared to steel reinforcement.Pultron CEO, Jasper Holdsworth was in attendance at the Future Investment Initiative, held in Riyadh, Saudi Arabia. As part of the Future Investment Initiative, a memorandum of understanding in the field of energy was signed between Aramco and Pultron with a value of 93.75 million riyals ($NZ38.9m).

According to Saudi Aramco’s internal analysis, GFRP rebar is qualified to replace 10% of Saudi Aramco’s total steel demand. They have recently mandated GFRP rebar to be included in its engineering standards for reinforced concrete structures in corrosion-risk areas.

“The world’s largest company, Saudi Aramco, is endorsing our Mateenbar™ technology and mandating the use of GFRP rebar in slab-on-grade, seawalls, sidewalks, drainage channels and other coastal structures,” says Jasper Holdsworth.With Saudi Aramco’s non-metallic initiative, the MoU with Pultron aligns with their proactive approach to managing corrosion in Saudi Arabia and throughout the Middle East. Mateenbar™ has made a name for itself in the Middle East as a superior alternative to steel in aggressive environments.

The Trade Commissioner to Saudi Arabia and the GCC at the NZ Embassy, Ahmad Zakkout stated, “It's fantastic to see New Zealand ingenuity being recognised in Saudi Arabia at the highest levels.”

Mateenbar is the principal supplier of GFRP rebar in the 21km-long Jizan Flood Mitigation Channel in Saudi Arabia. This channel is the only defence for the 400,000 barrel per day refinery built in an area of high flood risk between mountains and the coast. Once completed, it will be the largest project in the world to be fully-reinforced using GFRP rebar. Mateenbar has also been used as reinforcement for the Grand Paris Metro tunnel, the iconic Burj Al Arab, the F1 race track in Abu Dhabi and over 300 other high profile projects worldwide.

The use of Mateenbar™ is also gaining momentum closer to home, as engineers are seeking improved whole-of-life savings and sustainability, without compromising performance. The rebuild of the earthquake damaged State Highway 1 in Kaikoura is one such project where Mateenbar™ was used, providing a non-metallic and corrosion-free solution.


Pultron Composites, an industrial technology company based in Gisborne, specialising in the development and manufacture of customized fiber-reinforced polymer (FRP) pultrusions. Pultron successfully developed more than 45 new specialist FRP structural products for marine, mining, infrastructure, electrical, agriculture and recreation applications. For more information visit www.pultron.com

Mateenbar™ is Pultron’s proprietary glass fiber-reinforced polymer (GFRP) rebar. It is leading the world in durable rebar with distinct advantages including corrosion resistance; ¼ the weight of steel, high tensile strength (close to 2x the strength of steel); non-conductive; non-magnetic and consumes 70% the embodied energy of steel. It is used in large projects including bridges, tunnels, civil and infrastructure projects worldwide. For further information visit: www.mateenbar.com


ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

The Narrow Divide: New Poll Shows Tight Political Race For SME Votes

In a major turnaround following nearly a decade of MYOB election polls, Labour is currently the preferred political party of New Zealand’s SMEs, with 38% of SME owners and decision makers intending to vote red in the upcoming General Election, ... More>>

Reserve Bank: Further Easing In Monetary Policy Delivered

Tēnā koutou katoa, welcome all. The Monetary Policy Committee agreed to expand the Large Scale Asset Purchase (LSAP) programme up to $100 billion so as to further lower retail interest rates in order to achieve its remit. The eligible assets remain ... More>>

Retail: Post-Lockdown Retail Card Spending Picks Up

The rise in retail card spending was boosted by sales of furniture, hardware, and appliances, Stats NZ said today. “For a third consecutive month, card spending on the long-lasting goods (durables) remained at higher levels than last year, after ... More>>


Contact: Business Drops, New Generation On Hold

New Zealand’s second-largest energy company Contact Energy (‘Contact’) released its full year financial results for the 12 months to 30 June 2020 (‘FY20’) this morning. More>>

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: