Manufacturing and Industry

looking at the manufacturing and industry sector in the Middle East

Borouge eyes growth
ADNOC-controlled plastics manufacturer Borouge is examining the feasibility of a third plant to take output capacity up to 4.5m tons annually. The company's second plant is under construction and should be operational by 2010.
United Arab Emirates: Monday, April 28 - 2008 at 08:34

KIPCO Q1 profits up 100%
The Kuwait Projects Company has announced a 100% rise in normalised profits in the first three months of 2008 over the same period last year. The 2007 Q1 figure does not include the revenue from the sale of assets, inlcuding Wataniya Telecom. Total revenues for Q1 increased 73% over 2007 to $508.5m
Kuwait: Sunday, April 27 - 2008 at 08:16

City Cool on Crown Dilmun deal
City Cool Bahrain has signed an agreement with Crown Dilmun to provide the technology and also make investments under the build-own-operate scheme in district cooling and treated water systems for projects in the Gulf and Middle East and North Africa region, reported Bahrain Tribune. The deal is estimated at half a billion dollars and will initially target five projects with a total estimated capacity of 175,000 tonnes, to be executed in phases.
Bahrain: Saturday, April 26 - 2008 at 10:18

Union Cement's profit falls 12% in Q1
Union Cement Co, the UAE's third-biggest cement maker by market value, has announced that its first-quarter profit dipped 12% on higher costs for raw materials and power, but sales more than doubled, reported Bloomberg. Net income fell to Dhs19.5m ($5.3m), or 3.1 fils a share, from Dhs22.3m, or 3.5 fils, a year earlier. Sales jumped to Dhs208m from Dhs97m, while cost of sales jumped to Dhs181m from Dhs65m.
United Arab Emirates: Thursday, April 24 - 2008 at 14:08

Industries Qatar freezes steel prices
Industries Qatar's steel unit will freeze prices for the next three months to help its government fight inflation, reported Gulf Times. Prices would be fixed for the second quarter ranging between 3,250 riyals ($893.3) per tonne and 3,300 riyals per tonne, about 1,000 riyals less than in other Gulf Arab countries.
Qatar: Thursday, April 24 - 2008 at 08:48

Eurocon inks $200m deal with Corus Aluminium
UAE-based Eurocon Building Industries has signed a deal worth $200m with Corus Aluminium for the distribution of Alubond u.s.a aluminium composite panels in Western Europe, reported Khaleej Times. Under the deal, Corus Aluminium will buy Eurocon Alubond products worth up to $800m over the next three years and set up a new production facility in Europe. The deal will also help Eurocon Industries to double its production capacity and become the world’s largest aluminium composite panel manufacturer.
United Arab Emirates: Wednesday, April 23 - 2008 at 08:52

Panasonic unveils new air conditioner
Panasonic has created a new air conditioner designed specifically for the extreme summer temperatures of Bahrain and the country's unique sandstorms. The e-ion Air Purification System provides air purifying capability that is 10% better than any other air-con unit currently available, and features a compressor designed to withstand the most extreme climatic conditions, the company said in a statement. Last year Panasonic witnessed air conditioner sales increase by 131% in Bahrain, with a total sales increase of 124% across the region giving them a 12% share of the total GCC air-conditioning market.
Bahrain: Tuesday, April 22 - 2008 at 08:40

Sabic posts 10% growth in Q1
Saudi Basic Industries Corporation (Sabic) announced its first quarter 2008 profit, increaded by 10%, reaching SR6.92bn, compared with SR6.28bn during the same period in 2007. The company attributes the rise in profits as a result of increased production and sales by 6% and 4% respectively.
Saudi Arabia: Monday, April 21 - 2008 at 14:52