Kuwait, a country composed primarily of deserts, was for decades reliant on imports of fruit and vegetables from neighboring countries. These fresh goods would perish in a matter of hours in warehouses, leading to a shortage of produce and a huge waste of resources. A step had to be taken to counter this…
Refrigeration Industries Company (RIC) is a group holding company catering to both residential and commercial customers. In its 36 year history it has developed a strong foothold in the Kuwaiti market. The company is proud of its achievements in protecting the people of Kuwait from bad weather… Hot, dusty or humid, RIC and its products and services have been there for Kuwait’s people and will continue to be so.
RIC has even been honored to be included on Kuwaiti currency, a true sign of the company’s positive effect on the regional economy.
Rapid, resolute decision making and the ability to react quickly to changes in the market are amongst RIC’s core strengths.
At RIC, ongoing self-renewal is a core business principle. This concept is applied to all operations, from the elevated top-down view to the manner in which everyday decisions are made within the business. In applying this principle, RIC adheres to the logical product and business life cycles, thereby laying the foundations for sustainable, profitable growth.
The RIC 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 customer’s expectations.
Simplification has driven RIC’s cost base down helped to significantly boost profit margins.
RIC Management have simplified many aspects of the company and have worked continually on developing a closer, more innovative relationship with suppliers.
Vision and Values
“Pioneering Effective Solutions through Pragmatic and Progressive Approaches”
RIC is a practical and efficient company, ensuring that everything is done according to best business practise from inception to completion.
Moving forward and onward with a clear vision and determination for continuous improvement in the way business is conducted in the region.
RIC produce pioneering solutions to meet the requirements of our customers and are persistent in seeking market-leading, innovative results.
Paid-Up Capital: 8,514,108 KD
Share Per Value: 100 KF
Issued Shares: 85,141,080 Share
Treasury Stock: 840,000 Shares
Shares Outstanding: 84,301,080 Share
End of Fiscal Year: 31 December