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

Emirates Glass sales surge 50% in Jan-Sept  Join our daily free Newsletter

MENAFN - Khaleej Times - 10/10/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Emirates Glass, or EGL, wholly owned by Dubai Investments (DI), reported a 50 per cent increase in sales up to the third quarter of 2012, as compared to the same period last year.

Emirates Glass has attributed the rise in sales to the increase in local and international demand for high quality glass. Earlier, the company had forecasted a positive turnaround in the industry, setting a sales target of Dh200 million for the year ending December 2012.

Ziad Yazbeck, senior vice-president, Sales and Marketing, Glass LLC, said: "Our sales target was set taking into account a number of influencing factors on a global level and those that are unique to this region. Interestingly, Emirates Glass secured a series of significant purchase orders over the past few months, prompted by the steady upward movement in the construction industry both locally and in the neighbouring emerging markets. As a matter of fact, 70 per cent of the production this year has been exported to different markets outside the UAE."

Recently, Emirates Glass inked a partnership with property investment and development major Feryapi for a portfolio of prestigious projects worth Dh20-million in Turkey. In addition, the company has secured up to five purchase orders for prime city developments in Lebanon valued at AED 5.2 million. These include the Beirut City Center; Digital City Mall; IC project; Retail Central and Marina Town Quay. Emirates Glass has also extended the scope of its operations across the Middle East and Asia to include Qatar, India and Iraq.

Yazbeck added: "We have displayed a consistent ability to deliver cost-effective and top-quality material on time, which has increased our credibility and consequent demand. In addition, we have galvanised exciting synergies wit developers in regions that demonstrate high potential for development, thereby increasing our customer base in a consolidated manner. The sales prospects for the company look promising."


  MENA News Headlines

Click to Apply



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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