Zamil Steel presents plan for strong gains

Zamil Steel has unveiled a new five-year plan under which it seeks to cement its recent gains in profitability.

"Zamil Steel will be bigger, stronger and more profitable over the next five years as part of a five-year strategic plan," said President Khalid Al Zamil at the company's annual sales conference in Cairo.

The projection is for Zamil to grow more than 50 per cent over the period by investing in new production facilities, buying new companies, complementing product technologies and diversifying into fields complementary to the industry.

This is "an ambitious yet achievable target," said Al Zamil.

The conference focused on new methods aiming at improving the skills of the company's sales team in order to meet its commitment of providing high standard services for its clients.

"2003 was a year of significant progress, where Zamil Steel once again demonstrated clearly that based on its strong partner network and advanced infrastructure, it overcame a challenging global economic environment," said Al Zamil.

"By adopting an innovative product development and sales and marketing strategy, we continue offering competitive solutions to the international market.

"In spite of difficult market conditions, and while slightly lower than our expectations we reported earnings above the industry average.

"We see positive momentum in each of our three business segments as we begin 2004 and are also encouraged by early indications of economic recovery where we are expecting year-over-year growth in revenues and margins in each business segment."

The event was attended by builders, agents and consultants, senior management of Zamil Steel in Saudi Arabia, Egypt and Vietnam, and all sales managers and sales engineers in Zamil Steel international sales offices.

Highlights of the programme included case studies of successful international projects, motivational speeches from leading consultancy firms, and an awards ceremony featuring outstanding sales achievements from Zamil Steel's partners and sales teams.

"Our development of new markets ensures the company's continued growth to the advantage of our clients, partners and stakeholders. Zamil Steel's 2004 sales conference serves as a chronicle of what we have achieved in the past year and what we can achieve in the future," said Al Zamil.