It now exports 45% of its sales
Emirates Steel Arkan is studying expansion into new markets
Emirates Steel produces 3.5 million tons annually of rebar products and coils of iron wire.
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Saeed Al Rumaithi: “Increasing the group’s exports comes at the heart of its strategy to diversify its revenue sources.”
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The CEO of the Emirates Steel Arkan Group, Engineer Saeed Ghamran Al Rumaithi, said that the group is constantly studying the possibility of expanding into new markets in Asia and Africa, in order to enhance its competitiveness at the global level.
Al-Rumaithi added that the group aims to grow its business by exploring new markets, increasing production and efficiency, and innovating new products, noting that the group was able to expand the Emirates steel export markets to 60 markets at the end of the first half of this year, compared to 56 markets in beginning of 2022.
He stated that increasing the group's exports comes at the heart of its strategy to diversify its revenue sources through various marketing channels, in addition to enhancing the competitiveness of national products to support the unified industrial identity "Made in the Emirates", which aims to encourage manufacturing and support the national product, pointing out that export markets currently represent About 45% of the total sales of "Emirates Steel", compared to 55% of sales in the local market.
Al Rumaithi pointed out that the group has promising growth plans that will achieve more successes during the coming period, and will ensure the maintenance of the group's production capacity levels, noting that Emirates Steel has maintained its market share of 60%, while working to increase this percentage in the future through innovation. New and sustainable products, thus enhancing the contribution of the industrial sector to the country's GDP.
He explained that Emirates Steel produces 3.5 million tons annually of rebar products, iron wire coils, structural sections and pivot panels, enough to meet the needs of local markets, and diversify the structure of its economy by enhancing its exports to the world, while the production capacity of Al Ain Cement Factory is 5.7 million tons annually. of cement and four million tons of clinker, while the Emirates Brick Factories are producing blocks with a total capacity of 235,000 blocks per day.
He expected the group to continue its strong financial performance by the end of this year, benefiting mainly from the economic recovery witnessed by the country, in addition to the growth boom in the real estate sector, and the continuous strategic partnerships to develop the industrial sector, and support innovation and sustainability.
Al-Rumaithi estimated that 90% of the group's total revenues for 2022 will come from the Emirates Steel business, with the Arkan business contributing about 10%, after all its business units achieved profits during the first half of this year.
He said that the step of merging "Emirates Steel" and "Arkan" had the greatest impact on improving the operational performance of the two companies, pointing out that the group had adopted the name "Emirates Steel, Arkan" as a temporary trademark, while it would announce in due course the identity of the new group.
He added: “To ensure the success of the strategic integration step in our business growth process, at the beginning of the year we implemented a comprehensive program to strengthen the group’s organizational structure with the aim of accelerating the pace of integration, exploring new aspects of business unification, and improving aspects of operational efficiency.”
industrial strategy
The CEO of the Emirates Steel Arkan Group, Eng. Saeed Ghamran Al Rumaithi, affirmed the group’s commitment to enhancing its active contribution to achieving the objectives of the National Strategy for Industry and Advanced Technology “Project 300 Billion”, by investing in enhancing the sustainability of its operations, employing the latest technologies and solutions of the Fourth Industrial Revolution. and innovation of new sustainable products.
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