Rubber imports and exports into Dubai have hit Dh7.8 billion in 2008, according to recent reports.
In line with this, Rubber World Industries (RWI), the manufacturer of closed-cell rubber insulation, has announced plans to reinforce its current production capacity, amid projections of a continuous rise in global demand for rubber products by four per cent annually to reach 26.5 million metric tonnes by 2011.
The move follows a previously announced Dh30 million expansion plan outline focused on tripling its production capacity to 3,600 containers per year by 2013.
RWI is part of the international business conglomerate, the Memon Group of Companies and says that it accounts for 86 per cent of the Middle East rubber insulation market share.
"Increasing the quantity and augmenting the quality of our products are our foremost goals for 2009," said Abu Baker Shaikhani, Managing Director, RWI, and Chairman of Memon Group. "We have strategically planned to elevate our production, and we are optimistic that we will see further growth in the region, especially in Dubai. Given the bullish projections on the demand for top quality rubber and rubber insulation products, we are fully committed to continuously meeting the requirements."