Abu Dhabi: Emirates Steel, the largest single integrated steel producer in the UAE, increased its finished products output by 45.4 per cent during the first half of 2010 compared to the same period in 2009.
Product sales increased 30 per cent.
According to figures released yesterday by the company, production of rebar grew by 26 per cent during the first half of the year, compared to the first six months of 2009; while the output of wire rod rose a significant 283 per cent.
No time lost
In May, Emirates Steel achieved one million man hours without lost-time injury. Exports of these products more than doubled. The company sells around 80 per cent of its products to the local markets and the rest is exported to Jordan, Saudi Arabia, Kuwait, Oman, India, China, the Far East and Pakistan.
"This is a significant increase considering the downturn in local and regional markets," said Carl Andersson, senior vice-president of Operations. "The construction sector is the primary consumer of our rebar and wire rod products," he added. "Our objective is to be one of the leading regional companies in steel making.
"To reach this goal, we are working hard to eliminate bottlenecks in production. Like most steel makers, we have to operate our facilities at full capacity to make a profit," he said.
According to Venkat A.N., vice-president of sales, Emirates Steel was able to increase market share substantially.
