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International Rubber Company sales hit $9m in H1

DUBAI, September 3, 2014

International Rubber Company (IRC), a subsidiary of Masharie, the private equity arm of Dubai Investments, and a leading manufacturer of synthetic rubber profiles in the Middle East, has achieved sales of Dh34 million ($9.2 million) in the first six months of the year.

The company’s sales grew in the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain amid hectic real estate activity and escalated demand for its rubber insulation products, said a statement.

Sales in the UAE reached Dh18 million in the UAE during the period, compared to just Dh35 million for the whole of last year, while Saudi Arabia recorded Dh7.3 million and Qatar’s sales hit Dh4.5 million.

The company, which operates a 10,000-sq-m facility at Dubai Investments Park (DIP), is also targeting the African market given the massive growth potential on offer, it said.

Khalid Al Jarwan, general manager of Masharie, said: “IRC has witnessed a robust growth this year, and the encouraging sales are reflective of the massive demand for our top-quality products. We are associated with some of the most prestigious projects in the UAE and Gulf region, which reinforces our reputation as the leading manufacturer of synthetic polymer and rubber products in the Middle East.”

The notable projects under taken by IRC included the Presidential Palace in Qatar, King Abdullah Financial District in Riyadh, Masdar City, Jalila Hospital, Yas Mall, Fairmont Hotel, FEWA offices, Sorouh Commercial Building, Hilal Bank and Saraya Residential Houses in the UAE, and Muscat International Airport in Oman.

“Our future strategy centres on further enhancing our world-class product offering such as the introduction of bearing pads, which will meet the diverse customer requirements in the region,” Al Jarwan added.

IRC is also the authorised distributor of silicone sealants for Momentive Performance Materials (formerly GE Bayer Silicones) in the UAE, Oman, Qatar, Kenya and Tanzania and for 3M construction and electrical products in Saudi Arabia. - TradeArabia News Service




Tags: Sales | Rubber | surge | synthetic | Masharie | IRC |

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