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Commenting on the results, Ducab's Chairman, Ahmad Bin Hassan Al Shaikh, said:
"Last year we produced 80,000 metal tonnes of power cables and wires in our three factories in the UAE. This result is 23% higher than 2007 and is due to the strong regional demand coupled by our ability to meet the stringent requirements of our customers across the GCC.
The sales increase has been attributed to Ducab's penetration into new markets within the GCC and farther afield to Hong Kong, India, Iran and Iraq, whilst a large number of iconic projects such as Dubai Metro, Dubai Mall and the Burj Tower have been supplied with Ducab cables and wires in 2008.
During 2008 Ducab benefitted from investment in capacity expansion as the company launched two new sites - the acquisition of a cable factory and the inauguration of the UAE's first Copper Rod Plant, both in Mussafah, Abu Dhabi. The facilities were officially inaugurated by Sheikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince Court and Chairman of the Higher Corporation for Specialised Economic Zones - ZonesCorp.
Commenting on future plans, Ducab's MD, Andrew Shaw said,
"Being one of the leading manufacturing establishments in the UAE, Ducab takes its role in developing the leaders and employees of tomorrow very seriously. The National Development Programme is part of this responsibility and we are proud that Ducab more than doubled the number of Emiratis working for the company in 2008. This was achieved by offering a comprehensive training program that is challenging, interesting and realistic for the employees by fostering close partnerships with educational institutions in the Emirates - Ducab has partnership agreements with the Vocational Education Development Centre (VEDC) and IAT to recruit and develop young graduates from these institutions.'
Posted by Lara Lynn Golden, News Editor
