Refrigeration Industries And Storage Co. Sak (Kuwait)

The Company provides refrigerated warehousing services.
The Company's principal activities include ownership and lease of cold storage warehouses; manufacture, installation and maintenance of air conditioning systems, and investment of surplus funds in investment portfolios.
The Company has a manufacturing plant for central air conditioning that produces air conditioning equipments and chillers under the brand name COOLEX. The Company has diversified its operations in a range of sectors, including manufacturing, engineering, logistics and warehousing, construction (mechanical and electrical works), and maintenance and services.
The Company is a group holding company that provides the highest quality products and services to cater for both residential and commercial customers. In our 41 years of establishment we have developed a strong foothold within the Kuwaiti market. We are extremely proud of our achievements, but even more so we are proud of the fact that we have been protecting the people of Kuwait from bad weather, whether it may be hot, dusty or humid, RIC and our products and services have always been there for Kuwait's people and we will continue to do so.
Considering that the Company was a landmark formation for the Kuwait region we were, understandably, faced with great expectations for success. The company was, and still is, considered to be a milestone by the people of Kuwait as we provided products and services to evolve the Kuwait environment.
The Company s Strategy; Rapid: Rapid, resolute decision making and the ability to react quickly to changes in the market are amongst RIC's core strengths, Over almost 4 decades, the one thing that has been constant is the need to continually reinvent ourselves, regardless of the economic climate, Self-renewal
At The Company, we have taken this to the next level and incorporated ongoing self-renewal as one of our core business principles, applying this concept to all of our operations, from the elevated top-down view to the way more minimal decisions are made within the business.
In applying this principle, we adhere to the logical product and business life cycles, thereby laying the foundations for sustainable, profitable growth.
Ongoing self-renewal ensures that we subject our business models, organization and strategies to a process of continual review and ongoing improvement.
Operational Excellence; The company management team strives for operational excellence, improving capital efficiency and maintaining a strong cash flow. As part of this process RIC are always seeking to improve manufacturing processes, distribution logistics and on-time delivery performance exceeding our customer's expectations.
Simplification; Simplification has driven The Company s cost base down helped to significantly boost profit margins.
The Company s Management have simplified many aspects of the company and have worked continually on developing a closer, more innovative relationship with suppliers.
The Company s Vision and Values: Pioneering Effective Solutions through Pragmatic and Progressive Approaches”
Pragmatic; The Company is a practical and efficient company and we ensure that everything is done according to best business practise from inception to completion, Progressive; Moving forward and onward with a clear vision and determination for continuous improvement in the way business is conducted in the Region, Persistent.
The Company produce pioneering solutions to meet the requirements of our customers and are persistent in seeking market-leading, innovative results.
The Company was established on 8 March 1973 was registered in the Commercial Registration on 1 November 1973 under No. 19331.
The Company was listed on Kuwait Stock Exchange on 29 September,1984.
The Company become delisted from Kuwait Stock Exchange on 9 February 2017.
The Company listed again on Kuwait Stock Market-OTC market on 18 November 2018.