Ducab revenues rise in 2018 with strong performance
Dubai-based Ducab has announced that its 2018 consolidated group sales rose to AED4.8 billion, an increase of approximately seven percent year on year.
Ducab now operates six manufacturing facilities across four sites in the UAE, employing a workforce of over 1,600. Its established wires, cables and metals businesses all saw positive year on year sales growth in 2018.
The newly-established Ducab Aluminium Company, DAC, performed well during its first full year of operations, with total sales rising to over AED300 million for the year.
The group also made significant headway in international markets. Oman and Bahrain proved to be strong growth markets within the GCC last year and further afield, the company secured significant sales contracts in Egypt, Jordan, Algeria, Australia, Hong Kong, USA and the UK. Today, Ducab exports around 60 percent of its production across business units.
In the recent board meeting and AGM, Ducab confirmed the appointment of Dr. Ahmad bin Hassan Al Shaikh as the company’s new Chairman. Al Shaikh replaces Jamal Salem Al Dhaheri, who served as Chairman from 2017-2019.
The company’s chairmanship is rotated biannually between Ducab’s equal shareholders Senaat and the Investment Corporation of Dubai, ICD.
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