Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Emirates Extrusion to invest AED13m for new production line  Join our daily free Newsletter

MENAFN - Arab News - 30/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Emirates Extrusion Factory (EEF), a leading aluminum extrusion company in the UAE and a subsidiary of Masharie LLC - the private equity arm of Dubai Investments (DI), has announced plans to add a new production line at its aluminum extrusion plant in Techno Park, Dubai, entailing an investment of AED13 million.
The new line, to be added by mid-2014, will further augment the production capacity to 6,000 metric tons and will go a long way in bolstering the company's leadership in the sector.
This new line will boost the production of wooden finish and powder-coated aluminum, which augurs well for EEF amidst surging demand due to the construction boom in the region.
The company, which reported annual turnover of AED190 million in 2012, also unveiled plans to aggressively target the export markets in the wake of burgeoning construction activity across Saudi Arabia, Qatar, Oman, Yemen and Africa.
EEF currently exports nearly 60 percent to 70 percent of its production to various countries across the Middle East and Africa.
Khalfan Al-Suwaidi, EEF managing director, said: "The resurgence of the construction industry across the GCC and beyond is indeed good news for Emirates Extrusion, and we plan to cater to this inherent demand for extruded aluminum through our new production line."
He said: "Construction takes a major chunk of our business - nearly 80 percent, with the rest being earmarked for industrial downstream projects."
Al-Suwaidi said: "The new line will not only go a long way in escalating our overall output but also help us offer the most reliable aluminum profiles to the market."
He said: "At EEF, we will continue to focus on exports in the medium to long-term, as there is a huge demand for our products in growing markets across the GCC, the Middle East, Levant and Africa. We also expect increased demand from the local UAE market following Dubai's winning bid for Expo 2020, which reflects the immense growth potential on offer."
According to Frost & Sullivan, a leading business research & consulting firm, the UAE aluminum extrusion market is estimated to be in excess of 175,000 metric tons (MT) which amounts to approximately 35 percent of the total Gulf Cooperation Council (GCC) demand, growing at a compounded annual growth rate (CAGR) of eight to nine percent between 2011 and 17.
Since its establishment, EEF has grown to become one of the Middle East's market leaders in the development, commercialization and production of high-quality aluminum systems for architectural and non-architectural applications.
The company offers an impressive range of premium-quality, energy-efficient extruded aluminum profiles. EEF offerings include windows, doors, and structural glazing, as well as partition grill, hand rail, and curtain wall systems.

 






  MENA News Headlines
 Jul 30 2014 - Safe haven status boosts investment scope in UAEspanKhaleej Times
(MENAFN - Khaleej Times) E political situation in the region has made Dubai into a magnet for families from across the region to set up home and establish regional or global offices for their ...

 Jul 30 2014 - Tech Mahindra eyes expansion in Saudi ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Ch Mahindra a specialist provider of connected solutions has announced that it has signed a joint venture agreement with Midad Holding which is a subsidiary of Al Fozan a ...

 Jul 30 2014 - Middle East earns 1 of global market research revenuesspanKhaleej Times
(MENAFN - Khaleej Times) E entire Middle East region earned only a meager one per cent of the global market research revenues which indicates the potential for market research that is prevalent in ...

 Jul 30 2014 - Dewa to show smart initiatives at Gitex 2014spanKhaleej Times
(MENAFN - Khaleej Times) Bai Electricity and Water Authority or Dewa has announced its participation in Gitex 2014 to be held from October 12-16 at the Dubai World Trade Centre.Dewa will showcase its ...

 Jul 30 2014 - Sico first-half net profit jumps 166spanKhaleej Times
(MENAFN - Khaleej Times) Curities & Investment Company or SICO licensed by the Central Bank of Bahrain as a conventional wholesale bank announced its financial results for the second quarter of 2014 ...

 Jul 30 2014 - Taqa Arabia eyes Egypt expansionspanKhaleej Times
(MENAFN - Khaleej Times) Laa Holdings announced that its energy sector subsidiary Taqa Arabia aims to expand its network of fuel stations in Egypt through Taqa oil marketing company.The company ...

 Jul 30 2014 - Real estate to pick up from next week: Industry expertspanKhaleej Times
(MENAFN - Khaleej Times) Bai Land Department transactions exceeded Dh113b for H1 The real estate market in Dubai is expected to pick-up again from next week after a slowdown during the last couple of ...

 Jul 30 2014 - Memon to hand over five projects in 2014spanKhaleej Times
(MENAFN - Khaleej Times) Mpany working on Dh1.Memon Investments has planned to hand over five projects worth more than Dh600 million in the next five months and is also planning to launch five new ...

 Jul 30 2014 - ADFD funding in underdeveloped countries hit Dh61bspanKhaleej Times
(MENAFN - Khaleej Times) E development finance institution articulates the UAEs continued commitment to support the development process of emerging countries.An exterior view of power plant in ...

 Jul 30 2014 - UK and US preferred by Arab travellers: MarriottspanKhaleej Times
(MENAFN - Khaleej Times) E US takes the lead when it comes to bookings with 20 per cent of all reservations closely followed by the UK which accounts for 16 per cent.Marriott International has ...

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