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Ducab Reports AED 2.4 billion Sales During 2009
February 23, 2010:
Dubai
Company capitalizes on new opportunities in GCC and Asian markets while increasing UAE market share to 50%
Following a series of recent expansions within the GCC market, Ducab-one of the leading manufacturers of high-quality power cables in the Middle East-has announced achieving global sales of AED 2.4 billion during 2009, increasing their UAE market share by 10% from the previous year. The wholly-UAE owned company now possesses a local market share of around 50% and aims to gain 25% of all cable manufacturing business in the GCC in the near future. Although 2009 was a tough year for the regional construction industry as a whole, Andrew Shaw, Managing Director at Ducab, says that the company managed to utilize this time to focus on customer service, commit additional resources towards operational excellence, and expand the company's capacity in order to penetrate new international markets. In terms of capacity expansions, Ducab saw the completion of several landmark ventures during 2009, including the establishment of a Special Cables Unit dedicated to the Oil, Gas and Petrochemical sector, an expansion of the Ducab Connect range, and widening the product portfolio of Ducab copper rods. The most significant announcement however was the formation of the company Ducab HV (high voltage cable systems) jointly owned by DEWA & ADWEA. Sales during 2009 were positive in countries such as Qatar, Saudi Arabia, Oman and India. Ducab's copper manufacturing and marketing activities were particularly successful in these GCC and Asian markets, with the company recently overtaking competition in India to become the largest provider of imported copper rods in the country. This has resulted in over 25% of the cable and enameled wire manufactured in India with imported copper now using Ducab copper; a result of Ducab's exceptional customer service and world-class product quality. "This last year was a very challenging period worldwide, although infrastructure projects can be counter-cyclical in a downturn as governments spend money in order to stimulate economic activity," says Shaw. "The Middle East as a whole remained a strong market for Ducab in 2009, and today we believe that customer service is without a doubt the most important aspect of our business. By investing in our products and our partners alike, Ducab will continue to offer reliable cables solutions to its clients whilst contributing to the growth of the national economy," adds Shaw. Some of the major UAE projects that Ducab supplied cables to in the last few years were inaugurated in 2009, including the Burj Khalifa tower and the F1 Yas Marina Circuit, involving collaborations with companies like ETA and Siemens. For the F1 Yas Marina Circuit alone, nearly AED 100 million worth of power cables solutions were sourced from Ducab. Looking forward in 2010, Shaw says that the company is poised to benefit greatly from its recent investments in capacity expansions, especially the construction of the UAE's first high-voltage factory in Jebel Ali, Dubai (due to be operational by early 2011). The Ducab HV company had an official ground breaking ceremony on November 24th, 2009, by H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court and Chairman of the Higher Corporation of Specialised Economy Zones (ZonesCorp), and H.H. Sheikh Majid Bin Mohammed Bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority. According to the newly-appointed CEO of Ducab HV Jon Vail, projected sales of cable (up to 400,000 volts) and cable solutions for the company are estimated at AED 1 billion annually once the factory becomes fully operational.
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