Quotes: US 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."

 






  MENA News Headlines
 Jul 31 2014 - Air Algerie's plane crashesMENAFN
(MENAFN) A senior official said that the Air Algerie flight that crashed in Mali last week appears to have plummeted to the ground from an altitude of 10,000 meters in just a few minutes after flying ...

 Jul 31 2014 - Dubai's Damac eyes listing shares in Dubai bourseMENAFN
(MENAFN) Dubai luxury property developer Damac is trying to attract investors to invest in converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that ...

 Jul 31 2014 - 'Nearly 100 casualties' in Xinjiang violenceArab News
(MENAFN - Arab News) IJING: A clash in Xinjiang home to China's mostly Muslim Uighur minority left nearly 100 people dead or wounded an exile group said Wednesday after what authorities called a ...

 Jul 31 2014 - Aquino seeks to quash rumors of military coupArab News
(MENAFN - Arab News) NILA: Philippine President Benigno Aquino sought Wednesday to quash rumors that a coup is being plotted against him with his spokesman insisting he had the military's full ...

 Jul 31 2014 - Kerry in New Delhi to reboot ties with ModiArab News
(MENAFN - Arab News) W DELHI: US Secretary of State John Kerry flew into India on Wednesday for ice-breaking talks with new Prime Minister Narendra Modi forecasting a transformation in Washington's ...

 Jul 31 2014 - UK bankers' bonus: Tough rules on wayArab News
(MENAFN - Arab News) NDON: British banks will be able to claw back employee bonuses up to seven years later if the recipient is found guilty of serious recklessness the Bank of England ...

 Jul 31 2014 - Amazon to invest 2bn to expand in IndiaArab News
(MENAFN - Arab News) MBAI: The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees.Amazon.com Inc. said it will invest ...

 Jul 31 2014 - Mobily Wajid offers free lines to family membersArab News
(MENAFN - Arab News) Bily continues to provide its extraordinary offer to the new subscribers of Wajid that provides discounts and privileges to all family members.The new Wajid Extra and Plus ...

 Jul 31 2014 - Wife of BIS official dies in road crashArab News
(MENAFN - Arab News) E wife of a member of the governing board at the Bangladesh International School (BIS) in Jeddah was killed in a road accident on Tuesday the second day of Eid Al-Fitr.Nasima ...

 Jul 31 2014 - Indian Eid program toned down in solidarity with GazansArab News
(MENAFN - Arab News) Extensive yearly Indian community Eid program was reduced to a simple get-together ceremony on Monday night in solidarity with the victims of Gaza.Indian expatriates condemned ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help