Jafza fabricator posts 24pc revenue jump in '08
Dubai, September 28, 2009
Fabtech International, a leading global steel fabricator at the Jebel Ali Free Zone (Jafza) in Dubai, has posted 24 per cent growth in its revenue in 2008 despite difficult market conditions, said its chairman.
“Our outstanding engineering capabilities and commitment to deliver efficient solutions to our clients have helped us achieve double digit growth even this year when the industrial engineering sector is going through a tough time,” said Dr Harry Moreas, chairman, Fabtech.
In 2008 it built and delivered the world’s biggest Kangaroo crane to Qatar Petroleum, Dr Moreas noted.
“Jafza’s excellent logistics capabilities and business friendly approach has helped us immensely in achieving incredible growth,” he added.
“We are a fully export driven company. Almost 90 per cent of our products are meant for overseas markets including the Americas, Europe, Asia, the Middle East and the CIS. The excellent facilities offered by the free zone and the port provided us distinct advantage over our competitors in terms of cycle and response time.”
“We are able to offload material directly from the ship in record times. This tipped the scale in our favour as we are able to procure the material at competitive rates and begin the project almost immediately,” Dr Moreas explained.
Fabtech International was established in 1995 in Jafza. In less than fourteen years of its operation, the company has seen more than 10 fold growth in its revenue and 20 fold growth in its facilities, said a statement. – TradeArabia News Service