Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Bearings segment 'needs to be organized'  Join our daily free Newsletter

MENAFN - Arab News - 21/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) There is a dire need to organize the automotive market in general and the bearings segment in particular, said an industry expert.

Nishant Vora, director of Gulf Worldwide Distribution FZE, Dubai, was speaking at a seminar hosted by Abdullah Hashim Co. Ltd. in Jeddah.

Azizurrab, general manager, Abdullah Hashim's Machinery Division I, agreed with Vora's assessment. "Yes, the bearings sector in the Kingdom is not yet organized. It should be streamlined because people need to be sure if they are buying the right product and from the right source," he said.

The automotive industry in Saudi Arabia is one of the largest consumers of bearings. The market for all types of bearings is worth nearly SR200 million annually.

According to Vora, one of the problems the market faces is that of spurious, fake products. "There is a big demand for high-quality products, and customers are ready to pay for high-quality products. However, there are so many fake parts going around that getting real good products is a challenge," he said.

Vora described it is as a serious problem. "There is a need to create awareness and to educate the customers," Vora said.
"Fake products contribute to accidents and affect the life of a vehicle."
He said Saudi Arabia is a competitive market. "Everybody is trying to gain maximum advantage," he said.

"We want people to understand that when one pays a top price, he should get what he is paid for. He should get the right return on his money."
One of the primary objectives of the seminar is to educate the customer, he said.

"The second most important point is that there are only single players offering single brands. Customers want a one-stop shop. They want a complete solution, supply of the best products coming from one place. We have IKO, ZWZ, DPI, KSM, all of these manufacturers account for more than 20,000 items, all of which can be obtained from one platform, one company - Abdullah Hashim," said Vora.

Vora said that one can never underestimate the need for efficient, transparent and credible delivery channel with a high level of service.
He revealed plans to hold similar seminars in other cities, including Riyadh and Dammam from next year.

He said Gulf Worldwide Distribution FZE, in Jebel Ali, the UAE, provides the logistics and distribution support to Abdullah Hashim, and added that there is need for a higher level of services, with clear, transparent channel.
Azizurrab said the objective of the gathering was to bring together all manufacturers from China, Japan and India, and organize the business of bearing in coming years so as to provide the people with quality bearings at a reasonable price.

Abdullah Hashim, he said, is a big platform. "It is one of the oldest companies in the Kingdom, meeting most of the market needs."

 


Arab News




  MENA News Headlines
 May 24 2015 - Kuwait- Min. of Amiri Diwan receives KISR delegationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Sabah received a delegation of the Kuwait Institute for Scientific Research (KISR) including Dr. ...

 May 24 2015 - Kuwait- His Highness Crown Prince receives top officialsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah received on Sunday at Bayan Palace His Highness the Prime Minister Sheikh Jaber Al-Mubarak ...

 May 24 2015 - GCC-EU ministerial meeting held amidst critical developments - Qatari FMKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Qatari Foreign Minister Khaled Al-Attiyah said GCC-EU ministerial meeting, in Doha on Sunday, was held amidst critical regional and international developments, ...

 May 24 2015 - Kuwait- Info Min. stresses important role of FANA amid current circumstancesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Salem Al-Humoud Al-Sabah on sunday underlined the important role of the ...

 May 24 2015 - Arab army chiefs resume meetingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The chiefs of staff of Arab armed forces resumed their meeting here Monday under chairmanship of the Chief of Staff of Egyptian Armed Forces Lieutenant General ...

 May 24 2015 - Kuwait- His Highness Premier meets Iraq parliament speakerKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah held talks Sunday at Bayan Palace, with the visiting Iraqi Speaker of the Council of ...

 May 24 2015 - EU major partner for GCC - ZayaniKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The European Union (EU) has been a key partner for the Gulf cooperation Council (GCC) since the six-member bloc was established in 1981, according to GCC ...

 May 24 2015 - Salmiya Sports Club Reign SupremeArab Times
(MENAFN - Arab Times) The Salmiya Sports Club won the Kuwait Karate Federation Junior category trophy for 2014/2015 Championships. The finals and awarding ceremony were held under the auspices of the ...

 May 24 2015 - Q8 Opens First CNG Service Station In BelgiumArab Times
(MENAFN - Arab Times) The international arm of Kuwait Petroleum, Q8, on Thursday took another big step and major milestone in strengthening and expanding its presence in Europe by opening its first ...

 May 24 2015 - Kuwait- Wataniya Telecom Dives 40 Fils NBK FlatArab Times
(MENAFN - Arab Times) Kuwait stocks headed south on Thursday to close the week on a sour note. The key index dropped 46.87 pts to 6332.27 points snapping the 2-day upswing. The banking shares were ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help