new business at first manufacturing show
GCC machine tools industry boost with Europe’s biggest distributor
striking deal at MEMEX
Europe’s biggest machine tool distributor has signed an agreement for the Gulf Co-operation Council (GCC) with a free zone company based in Sharjah, United Arab Emirates, in a deal struck at the first Middle East Manufacturing Exhibition (MEMEX).
The agreement between Spain’s Correa-Anayak and Sharjah’s Thompson International FZC was one of several made at MEMEX, held in Abu Dhabi last month, with 84% of exhibitors successful in generating new business leads, according to the official survey carried out for organisers IIR Middle East.
“As the inaugural MEMEX clearly demonstrates, Gulf countries are investing heavily in the expansion of industrial manufacturing,” said Trevor Punt, Group Exhibition Director. “Most GCC countries are reducing economic dependence on oil and gas by setting up industrial zones to stimulate growth in manufacturing.”
One of the major growth areas is in machine tools with demand forecast to rise by a huge 39% to $4.3 billion by 2012. Correa-Anayak is one of the leading industrial groups in Europe with a multi-million euro turnover in the design and manufacture of milling machines for the aerospace, railway, energy and general mechanical sectors.
The company exports 80% of production through a network of distributors. Senior officials from Correa-Anayak met with Thompson directors at MEMEX. Thompson tied up as official sole GCC distributors for the full range of Correa-Anayak computer controlled machines.
Thompson Technical Director Trevor Pereira said MEMEX had been a “great success not only in terms of inquiries generated but also with immediate sales of machines.”
“This was an altogether outstanding show,” Punt added. “Some of the most influential decision-makers in the regional manufacturing sector were present at MEMEX, the first dedicated event of its kind to run in Abu Dhabi, and it sets a high standard for the second edition of the show will be held from 23-25 November 2008.”
The exhibitor survey shows that the vast majority of exhibitors reported MEMEX had generated anything from six to 50 business leads and new contacts for future sales. Establishing new business contacts and sales leads was the overwhelming reason given by exhibitors for taking part in MEMEX. Highlights from the official exhibitor survey include:
• 82% of exhibitors said the return on investment was good
• 84% exhibitors were successful in generating new leads
• 91% appreciated the visitor quality
• 69% considered MEMEX an important part of their marketing strategy
• 91% predict prospects for growth in the sector are great in the next 12 months
