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- Dubai 05:31 06:49 12:14 15:11 17:33 18:52
Emirates Extrusion Factory (EEF), a leading aluminium extrusion company in the UAE and a subsidiary of Masharie LLC – the private equity arm of Dubai Investments, has announced plans to add a new production line at its aluminium extrusion plant in Techno Park, Dubai entailing an investment of Dh13 million.
The new line, to be added by mid-2014, will further augment the production capacity to 6,000 metric tonnes and will go a long way in bolstering the company’s leadership in the sector. This new line will boost the production of wooden finish and powder-coated aluminium, which augurs well for EEF amidst surging demand due to the construction boom in the region.
The company, which reported annual turnover of Dh190 million in 2012, also unveiled plans to aggressively target the export markets in the wake of burgeoning construction activity across Saudi Arabia, Qatar, Oman, Yemen and Africa. EEF currently exports nearly 60-70 per cent of its production to various countries across the Middle East and Africa.
Khalfan Al Suwaidi, EEF Managing Director, said: “The resurgence of the construction industry across the GCC and beyond is indeed good news for Emirates Extrusion, and we plan to cater to this inherent demand for extruded aluminium through our new production line. Construction takes a major chunk of our business – nearly 80%, with the rest being earmarked for industrial downstream projects. The new line will not only go a long way in escalating our overall output but also help us offer the most reliable aluminium profiles to the market.”
He added: “At EEF, we will continue to focus on exports in the medium to long-term, as there is a huge demand for our products in growing markets across the GCC, the Middle East, Levant and Africa. We also expect increased demand from the local UAE market following Dubai’s winning bid for Expo 2020, which reflects the immense growth potential on offer.”
According to Frost & Sullivan, a leading business research & consulting firm, the UAE aluminium extrusion market is estimated to be in excess of 175,000 metric tonnes which amounts to approximately 35 per cent of the total Gulf Cooperation Council (GCC) demand, growing at a compounded annual growth rate (CAGR) of eight to nine per cent between 2011 and 17.
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