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EuroWire – November 2010
13
corporatenews
An article appearing on the AME Info news website reports that
Emirates Steel, the largest single integrated steel producer in the
UAE, registered an increase in finished products output of 45.4%
during the first half of 2010, compared to the same period in
2009. Product sales increased by 30% during the same period.
According to figures released by the company, production of
rebar grew by 26% during the first half of the year, compared to
the first six months of 2009, while the output of wire rod went up
by a significant 283%.
Exports of rebar products more than doubled. The company sells
around 80% of its products to the local markets, while the rest is
exported to Jordan, Saudi Arabia, Kuwait, Oman, India, China, the
Far East and Pakistan.
“This is a significant increase considering the downturn in local
and regional markets,” said Mr Carl Andersson, SVP of operations.
“The construction sector is the primary consumer of our rebar
and wire rod products,” he added.
“Our objective is to be one of the leading regional companies in
steel making. To reach this goal, we are working hard to eliminate
bottlenecks in production. Like most steel makers, we have to
operate our facilities at full capacity to make a profit.”
Mr Juma Al Mansouri, AVP of sales, expects Emirates Steel
to export more than 50% of its wire rod and coil products in
2011, whilst only 15% of rebar output will be exported. “On
the commissioning of the steel sections mill, during the first
quarter of 2012, further export opportunities will be targeted,”
he concluded.
Emirates Steel Industries – United Arab Emirates
Website
:
www.esi-steel.comEmirates Steel increases output by 45.4%
and sales volumes by 30%
Emirates Steel is the largest single integrated steel producer in the UAE
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