Arab Today, arab today emirates extrusion targets 10 growth in 2015
Last Updated : GMT 02:18:28
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Emirates Extrusion targets 10% growth in 2015

Arab Today, arab today

Arab Today, arab today Emirates Extrusion targets 10% growth in 2015

Emirates Extrusion Factory
Dubai - WAM

Emirates Extrusion Factory (EEF), a leading aluminium extrusion company in UAE and a subsidiary of Masharie - the private equity arm of Dubai Investments (DI), has announced plans to commission its third extrusion line at its plant in Techno Park, Dubai, which will increase its production capacity by another 7,000 metric tonnes per annum.

EEF, which reported a total turnover of over 13,800 metric tonnes in 2014, is targeting growth of over 10 per cent growth in 2015 and bracing for increased demand in line with its expansion plans into Africa; including Algeria, Angola, Morocco, Tunisia and Kenya; and Europe, besides increasing growth in volumes from the UAE, Oman and Saudi Arabia.

The company has also announced plans to start a new powder coating plant with a capacity of 8,400 Metric Tonnes per annum, as demand for aluminium products surges amidst rampant construction projects in the UAE and region.

Khalfan Al Suwaidi, Managing Director of EEF, said: "The ongoing building and construction activity across the Mena region is leading to huge demand for aluminium profiles. The company is planning to grow 10% year-on-year for the next 2-3 years in the backdrop of this strong demand and growth potential. Emirates Extrusion is also creating the required additional capacity by augmenting its production line and powder coating facilities.”

EEF, which exports around 60-70 per cent of its finished goods across the Mena region, also expects an increase in demand from downstream projects in UAE and across the GCC.

"There have been significant investments in transportation, electrical and industrial sectors across the UAE and GCC states, and demand for aluminium extrusion profiles for these sectors is expected to surge in the near future. Aluminium exports are expected to be robust in the future and becoming one of the key non-oil industry sector in the UAE,” said Al Suwaidi.

Aluminium production in the GCC is expected to grow significantly in the short to medium term and the region is expected to contribute around 15 per cent of the total global production of aluminium by 2015.

 

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