Dubai: Ducab Metals Business ((DMB), part of Ducab Group Wednesday said it clocked a revenue of Dh1 billion in 2020 and it is expected to be at Dh1.5 billion in the financial year 2021, despite the challenges of the pandemic.
Speaking at a press conference to announce DMB’s participation at Wire and Tube 2022 in Dusseldorf, organized by Messe Dusseldorf, Mohamed Al Ahmedi, CEO of DMB said the company exports 70 per cent of its output.
DMB is also targeting new export markets including in Europe, Africa and the US while the group continues to service the GCC markets including, the UAE, the UK and Australia.
“Our participation will reinforce our market reputation as a leading global player in the energy raw materials industry. This will also support expansion and diversification of our metals business. Currently, we export to 45 countries and our aim is to increase our overseas market footprints further,” said Al Ahmedi.
Elaborating on the company’s business growth, Al Ahmedi said DMB turned the pandemic in 2020 and 2021 into an opportunity benefiting from the strong infrastructure in the UAE.
“We also had the advantage since the UAE managed the pandemic with prudence and perfection. The ports in UAE were operating, so were our factories, making us capable to cater to our export markets. We also strengthened our relations with our supply chain partners making production and exports run seamlessly,” he said.
A Messe Dusseldorf official at the press conference said that in the wake of the exponential post-pandemic growth opportunity in global wire, cable and tubes market, Middle Eastern companies looking to increase exports have confirmed robust participation at the world’s leading twin trade fair, Wire and Tube 2022, a senior official of Messe Dusseldorf, the event organizer, said.