Emirates Glass\ trade bubbles up 50% over the year.
Emirates Glass, one of the region's leading processors of flat glass, reported a 50% increase in sales for the nine months to September 30.
The company said that the increase was due to greater demand from local and international clients for its product. The firm did not reveal the figure achieved, but had earlier set a sales target of $54.5m for the whole of 2012.
"Emirates Glass secured a series of significant purchase orders over the past few months, prompted by the steady upward movement in the construction industry both locally and in the neighbouring emerging markets," said Ziad Yazbeck, senior VP for sales and marketing.
"As a matter of fact, 70% of the production this year has been exported to markets outside the UAE."
Recently, Emirates Glass inked a partnership with property investment and development major Feryapi for projects in Turkey worth $5.5m . The company also secured up to five purchase orders for prime city developments in Lebanon valued at $1.4m.
Emirates Glass has also extended the scope of its operations across the MEA region to include Qatar, India and Iraq.
Yazbeck added: "We have displayed a consistent ability to deliver cost-effective and top-quality material on time, which has increased our credibility and consequent demand. At the current rate, the sales prospects for Emirates Glass look immensely promising."
Earlier this year, Emirates Glass inaugurated the largest coating line in the Middle East at a cost of $43.6m in order to increase production capacity to over 350 hectares.
The company is has also developed a number of sustainable products, including VitroGlaze - an eco-friendly chemical glass treatment that repels dirt and grime away from glass surfaces.
2012 ITP Business Publishing Ltd. All Rights Reserved.
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|Date:||Oct 8, 2012|
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