Interpipe's regional revenues to increase 2%

Dubai: Ukrainian steel pipe and rail wheel maker Interpipe expects the Middle East to provide eight per cent of its total revenues this year, two per cent more than last year. Interpipe generated $86.4 million of its overall $1.44 billion sales from the region last year.

The company is looking to export about 50 per cent more steel pipes to the region this year than it did in 2006, a senior official said.

"In the first six months our sales to the Middle East have grown 48 per cent compared to the same period last year. We expect the same trend for the full year. This will increase the Middle East's share in revenues from six per cent to eight per cent," corporate affairs director Oleksandr Kharchenko said.

Interpipe will open a marketing office in Jebel Ali in September in order to develop links with potential clients, especially companies in the oil and gas sector. Setting up of a warehousing facility is Jebel Ali Free Zone is also under consideration.