Hardware and Tools Middle East opens doors to trade visitors today

Hardware and Tools Middle East is a must-attend show for all retailers, distributors and contractors who deal with the hardware and tools industry.

The exhibition will run concurrently with Garden and Landscaping Middle East exhibition from May 17 - 19, 2009 at the Dubai International Convention & Exhibition Centre.

Ms. Elisabeth Brehl, Managing Director of Epoc Messe Frankfurt GmbH, exhibition organizer said, "According to recent reports the economic recession and downward spiral in the property market has resulted in a boom in the Do It Yourself (DIY) segment, and home improvement is on the rise."

"Due to the economic recession and the global credit crunch, people are focusing more on improving their home and living conditions resulting in DIY hardware growth," she added.

Some of the companies participating in this year's Hardware and Tools Middle East exhibition are: Arwani Trading Company LLC (UAE), Carlos Sousa Lda (Portugal), Channellock Inc (United States), Maxrite Impex Pvt. Ltd (India), Orbis Will GmbH + Co. KG (Germany), and Central Motors & Equipment / Bosch (UAE).

Products that will be on display include, tools, lubricants, measuring devices, various architectural hardware, webbing and round slings, cargo bars, parting wall lock, hand tools, rubber hoses for air, water and gas, unique twin blade saws, SDS drill bits, circular saw blades, wrenches, pliers, screw drivers, bits; abrasive, finishing and polishing products, automotive and hand tools, cargo control, plastic toolboxes and storage equipments, galvanized wires, stainless steel, wires/bars, zinc wires, aluminum alloy wires, and coca wires.

Ms. Brehl added that, "Confidence building measures put in place by the UAE leadership have promoted stability in the UAE market and boosted investor confidence. The measures include the decisive action taken by the UAE Central Bank to support half of an unsecured, $20bn, 5-year notes issue, at an annual interest rate of 4%. This was followed by a move by Abu Dhabi, which injected $4.4bn into five of its own banks."

She added that the UAE in September set up a $13.6bn fund for the country's banks to boost liquidity. In October, it guaranteed bank deposits and said it would add another $19bn into the banking system.

Abu Dhabi's wealth fund had $328bn in assets at the end of 2008, according to a study by economists at the Council on Foreign Relations. "All these moves ensure that active construction projects would continue and spur demand for hardware and tools in the UAE and the Gulf countries, as neighboring Gulf countries had also instituted confidence building measures to stabilize their economies and lessen the impact of recessionary pressure."