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 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

 May 26 2016 - Turkmenistan's Deputy Prime Minister and Foreign Minister receives Member of Saudi Council of Economic Affairs and DevelopmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Ashgabat, 19 Sha'ban, 1437,May 26, 2016, SPA --Deputy Prime Minister and Foreign Minister of Turkmenistan Rasit Meredow has received in the Turkmen capital, Ashgabat, ...

 May 26 2016 - Saudi Ambassador meets Algerian officialsSaudi Press Agency
(MENAFN - Saudi Press Agency) Algiers, 19 Sha'ban,1437 AH, 26 May,2016 , SPA - Saudi Ambassador in Algeria Dr. Sami bin Abdullah Al-Saleh visited here today the Governor of Algerian capital, Abdul ...

 May 26 2016 - Turkish flight to London makes emergency landing in BelgradeSaudi Press Agency
(MENAFN - Saudi Press Agency) BELGRADE, Serbia, Sha'ban 19, 1437, May 26, 2016, SPA -- Officials say a Turkish Airlines jet on a flight from Istanbul to London has made an emergency landing in ...

 May 26 2016 - Saudi- Team of King Salman Center for Relief delivers 200 tons of dates to MauritaniaSaudi Press Agency
(MENAFN - Saudi Press Agency) Nouakchott, 19 Sha'ban, 1437,May 26, 2016, SPA -- The team of King Salman Center for Relief and Humanitarian Aid handed over today the gift of the Custodian of the Two ...

 May 26 2016 - Finance Minister meets Sudanese Minister of InvestmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 19 Sha'ban, 1437,May 26, 2016, SPA -- The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met here today with the Minister of State at the Ministry of ...

 May 26 2016 - Welcome to Happiness Island Resort, Abu DhabiMENAFN Press
(MENAFN Press) The new beach destination, Happiness Island Resort, situated two minutes from Saadiyat jetty via speed boats, hosted an exclusive media sneak-peek last weekend. The ultimate ...

more...


 





Google

 
 

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