EoW November 2010

corporatenews

Emirates Steel increases output by 45.4% and sales volumes by 30%

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.”

Emirates Steel is the largest single integrated steel producer in the UAE ▲ ▲

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.com

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EuroWire – November 2010