Ducab sales up 38pc to $898m
Dubai, March 24, 2009
Ducab, a leading manufacturer of power cables in the Middle East, has registered solid growth in 2008 with its sales surging to a record Dh3.3 billion ($898.4 million) up 38 per cent when compared to 2007.
In addition, the cable manufacturing company has reported an increase in the production of its power cables and wires from 65,000 metal tonnes in 2007 to 80,000 metal tonnes in 2008.
Commenting on the record results, Ducab chairman, Ahmad Bin Hassan Al Shaikh, said last year the company had produced 80,000 metal tonnes of power cables and wires in its three factories in the UAE.
'This result is 23 per cent higher than 2007 and is mainly due to the strong regional demand coupled by our ability to meet the stringent requirements of our customers across the GCC,' he commented.
According to him, Ducab’s penetration into new markets within the GCC and farther afield to Hong Kong, India, Iran and Iraq had contributed to its sales growth.
The company also made massive supplies of cable and wires to a number of iconic projects such as Dubai Metro, Dubai Mall and the Burj Tower in 2008, Al Shaikh noted.
During 2008 Ducab benefitted from investment in capacity expansion as the company launched two new sites – the acquisition of a cable factory and the inauguration of the UAE’s first Copper Rod Plant, both in Mussafah, Abu Dhabi.
The facilities were officially inaugurated by Sheikh Hamed Bin Zayed Al Nahyan, chairman of the Abu Dhabi Crown Prince Court and chairman of the Higher Corporation for Specialised Economic Zones – ZonesCorp.
Commenting on future plans, Ducab managing director Andrew Shaw said, 'Being one of the leading manufacturing establishments in the UAE, Ducab takes its role in developing the leaders and employees of tomorrow very seriously.'
'The National Development Programme is part of this responsibility and we are proud that Ducab more than doubled the number of Emiratis working for the company in 2008.'
'This was achieved by offering a comprehensive training program that is challenging, interesting and realistic for the employees by fostering close partnerships with educational institutions in the Emirates,' Shaw pointed out.
Ducab has partnership agreements with the Vocational Education Development Centre (VEDC) and IAT to recruit and develop young graduates from these institutions, he added.-TradeArabia News Service
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