Rubber World Industries records AED 32.4 million in sales revenues in 2008
Leading manufacturer aims to increase production capacity by 50 per cent in 2009
Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-Flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, has announced that it has reached a record of AED 32.4 million sales revenues in 2008. The company further revealed its aims to boost its production capacity by as much as 50 per cent, as part of its strategy to hit its AED 60 million target revenue for 2009.
As part of its expansion plans for 2008, RWI has invested AED 30 million in the construction of a new production facility in Ajman. The new production plant has 14 new production lines capable of fabricating a wide range of rubber insulation products in more than 300 different sizes. This massive expansion investment has helped the company provide high quality products consistently and meet the growing demand internationally and in the Middle East. Under its new expansion agenda, the company’s present production capacity, which is at 1,200 containers per year, is targeted to hit 1,800 containers by the end of 2009.
“The success we have seen in the previous year affirms that we have employed the right strategy, which has enabled us to maintain our position of leadership in this market,” said Abu Baker Shaikhani, Managing Director, Rubber World Industries, and Chairman of the Memon Group. “Moving forward, we have again raised the bar to a level that will further expand our clout within the regional market. By meeting the demand for high quality rubber insulation products both regionally and internationally, we are optimistic that our new goals this year will be met.”
As a market-leading manufacturer, RWI currently holds 86 per cent share of the Middle East’s rubber insulation market, supplying the majority of the region’s requirements for rubber insulation pipes, sheets and other rubber-derived products. The company has further revealed that its expansion goals will pave the way for the realisation of its long-term goal, which is to be able to produce 3,600 containers by 2013.
“Amidst expectations that the Middle East economy and market will come to a more stable position, we have redefined our current standards to further exceed what we have achieved in the previous year. In addition to increasing our production, we will be reinforcing our investments into the latest technologies to further enhance our products’ quality and performance, while capitalising on the considerable reduction in raw material costs to produce higher quality products at lower prices,” concluded Shaikhani.
