H.H. Sheikh Hasher bin Maktoum honours Danube as one of 'UAE's Top 20 Performers for 2008'

The list of top companies included industry leaders within the UAE who were identified by 'Newsweek Arabic Edition' to have successfully upheld their corporate objectives while making significant contribution to the overall progress of the UAE.

Rizwan Sajan, Chairman of Danube Building Materials received the award, which recognises the company's impressive performance and aggressive expansion last year.

Among Danube's most notable achievements in 2008 was its establishment of seven new facilities in the UAE and across the region. The company's newest investments comprise a manufacturing facility in China, a production plant in Ajman, a ceiling manufacturing hub in Sharjah, and a steel factory in Oman.

In addition, Danube has also made sizeable investments within the major sub-sectors of the construction industry, including the UAE steel aluminum and glass markets, and the Bahraini steel market. Furthermore, the company has launched two 'Buildmart' retail complexes in Ras Al Khaimah, UAE and in Bahrain.

All these have contributed to Danube's Dhs1.1bn sales revenues, which represent an impressive 70% growth in its annual earnings for 2008 - a feat that the company seeks to surpass by rolling out a multi-phase expansion plan to construct branches of 'Buildmart' retail complexes across the GCC.

"To be recognised by a reputed organisation such as Newsweek is truly a tremendous accomplishment, and we at Danube are very proud of this prestigious acknowledgment," said Rizwan Sajan. "Based on the growing number of investors seeking to reap the benefits of the readjusted market prices of building materials, we have made significant efforts to become even more visible by investing in high profile activities highlighted by our sizeable market investments as well as new product releases."

"We are currently maximising on the favourable employment opportunities present among the highly competent workforce in UAE, Bahrain and other countries. We believe that our bold and strategic moves have driven our success in leveraging the unique opportunities presented by the current economic crisis," he added.

As part of the Newsweek Arabic Edition's 'Award of Excellence Program', the news publication's editorial team reviewed organisations from the government, semi-government and private sectors engaged in business, utilities and services in the UAE.

Danube made a strong impression among the judges as one of the companies with the most achievements and contributions to the construction industry and the UAE's economy. Providing top quality building materials to private developers, government projects and individual customers, Danube has been part of the UAE's rise both as nation and as a regional real estate powerhouse.

"We perceive the current financial climate as an ideal opportunity for the market to correct itself and build on its strengths. Having maintained our strong market presence since the onset of the real estate slump, we are intensifying our efforts to meet all our customers' needs and the market's demand. The next few years will witness significant growth for Danube, as we roll out our plans to establish more facilities as well as retail complexes across the UAE and the GCC," concluded Sajan.