ERJ staff report (DS)
Dubai -- Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South East Asia said it has invested AED 30 million (Euro 5.3 million) in the construction of a new production facility as part of its expansion plans for 2008.
The new plant is expected to triple the manufacturer's production capacity within a five-year period to address the surging demand for rubber insulation products amidst the current construction boom in the region.
At present, the manufacturer claims to hold 80 per cent share of the Middle East rubber insulation market and has recorded over AED 10 million in sales revenues in 2007. The company is also currently supplying 75 per cent of the region's requirements for rubber insulation pipes and sheets, and other rubber-derived products.
RWI said it is gearing up to address the rapid growth in demand for rubber products, which is forecaste to increase by 4 per cent annually to reach 26.5 million metric tons by 2011, in addition to the soaring orders from the fast-growing property development market in the region.
"Our new production plant will have 14 new production lines capable of fabricating a wide range of rubber insulation products in more than 300 different sizes, with which we expect to drastically increase the volume of products we can supply to the market," said Abu Baker Shaikhani, Managing Director, Rubber World Industries.
Established in 1993 and part of the international business conglomerate - the Memon Group of Companies, the manufacturer dominates the regional market today by supplying 75 per cent for of the region's requirements for rubber insulation pipes and sheets, and other rubber-derived products.
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Press release from RWI