Ducab, the leading manufacturer of high quality power cables in the Middle East, announced Tuesday an AED 687 million record sales achievement in 2004, which is a 30 per cent increase, compared to the previous year. The results were announced at a press conference.
Ducab recently stepped up its expansion plans by entering into new export markets of Iran, India, Jordan and Tanzania with major projects and distribution agreements. Ducab has also begun in early 2004 the construction of an 18,000 square meter factory in Abu Dhabi at Abu Dhabi Industrial Area, which will further strengthen its existing presence in the UAE. The Plant is going to be formally inaugurated in early 2005.
Addressing the press conference, Colin Paskins, Managing Director, Ducab said, “We had a very successful year in 2004 and our impressive results are testimony to this. This performance couldn’t have come at a more appropriate moment for us, as we commemorate the completion of 25 years of business. Ducab’s growth path over the last two decades has been commendable and our last year’s results will further boost our major expansion plans and help us realise our objective of trebling our business by 2010. Ducab boasts of a remarkable average annual sales growth of 15 per cent since 1981. The company’s annual production grew from 2,000 tonnes to 40,000 tonnes, while its manpower increased from 86 to more than 500 employees at present.”
Highlighting few of Ducab’s achievements in recent years, Paskins added, “In 1999 Ducab commissioned a new CCV line for the manufacturing of medium voltage cables. In 2000 it was presented with the Royal Society for the Prevention of Accidents (RoSPA) President’s Award for its outstanding performance in occupational health and safety over a ten-year period. In 2002, Ducab received the ISO 9001-2000 quality management certification, in 2003 Ducab won a major contract to supply cables for the Formula 1 project in Bahrain and in last year Ducab was awarded the AGCC award for our environmental practices.”
“Ducab received total orders worth AED 719 million in 2004, an increase of 45 per cent from 2003. Ducab’s Specialised Fire Resistant cables, developed for Delhi Metro was our flagship product in 2004. The Middle East and North African region (MENA) forms the major export market for most of Ducab’s products, although we also export to a lot of countries outside this region,” said Farid Mohammed Ahmed, General Manager, Sales and Marketing, Ducab.
Ducab is a privately held company set up in 1979. It is jointly owned by the Governments of Dubai and Abu Dhabi, and produces mainly low-to-medium voltage power cables and auxiliary products.
“We will continue to expand our product offering and venture into new markets. Today we look back at our past and work on areas that need improvement as we make rapid strides of progress in this competitive market scenario. We will maintain our focus on the MENA region and our new plant in Abu Dhabi is projected to increase our annual capacity to almost 65,000 tonnes,” concluded Paskins.
