Ducab posts record $980 million sales for 2010
Record sales see firm growing despite increased competition
One of the Middle East’s biggest manufacturers of power cables has announced record sales of $980 million for 2010.
Revealed during a press conference in Dubai, the profits represent a 51 per cent increase over 2009 and Ahmad Al Shaikh, Chairman of Ducab, attributed the company's success to expansion into new sectors and markets within the Middle East, Europe, Africa, and Asia.
“Last year was a very challenging period worldwide for an industry such as ours, where real estate and construction are major drivers of demand, and the Middle East market was no exception," said Al Shaikh. "Fortunately, infrastructure projects and energy investment throughout the GCC have been counter-cyclical in this downturn and have provided some compensation for the construction slowdown. Ducab managed to grow despite the market condition and increased competition in the region"