Ducab has announced record sales of Dh1.1 billion ($300 million) during the first half of 2007, an increase of 55 per cent compared to the Dh711 million achieved for the same period last year.
Walter Bailey, managing director, Ducab, said: “The financial performance of Ducab bears testimony to the phenomenal progress made by the company in 2007. The performance is all the more significant given the increasing competition in the geographical markets in which the company operates.”
He thanked the company's executive management team and employees for their commitment and dedication towards achieving these results and also the company's customers, agents, and suppliers for the continued support and confidence reposed by them in Ducab.
“The company actively participates in the economic and development activities in the UAE and the region while maintaining its vigilant approach and applying sensible management policies. The company's robust business strategies have consistently generated solid growth and the financial results are a reflection of Ducab's position as the region’s leading manufacturer of high-quality power cables in terms of sales and diversity of its products and the quality of services offered. This achievement marks the beginning of a new era for Ducab. We have crossed the psychological one billion dirhams barrier and are now eager to embrace new challenges,” Bailey added.
Ducab was established in 1979 as the first purpose-built cable manufacturing company in the UAE and is equally owned by the Government of Dubai and Government of Abu Dhabi. Its product range covers high voltage cables up to 132 kV, Ducab Powerplus medium voltage cables (up to 33 kV), low voltage power cables, control and auxiliary cables, wiring and lead-sheathed cables, and Ducab Smokemaster, low smoke and fume zero halogen cables. Ducab is also well known as the distributor of Ducab Connect cable accessories.
Ducab has undertaken many developments in the last 10 years including the manufacture of medium voltage cables in 1998, its new factory in Abu Dhabi that was opened early in 2005, its PVC Compounding facility in Jebel Ali opened during 2006, and its Copper Rod casting plant currently under construction in Musaffah. All of these completed projects were finished on time and within budget. In January 2007 Ducab announced its biggest expansion plan at a cost of Dh660 million. – TradeArabia News Service