Ducab Group announced that it achieved outstanding gains across its three business units during 2020 and recorded an overall growth of 36% in its profits compared to the previous year, despite the difficult circumstances imposed by the Covid-19 pandemic.
Mohamed Abdel-Rahman Al-Mutawa, CEO of Ducab Group, said: We are proud to achieve these exceptional results and to continue to provide our distinguished services to our customers in the world according to the highest standards of excellence for which the Ducab Group has always been famous, as a result of the continuous effort that the company undertakes to enhance the diversity of its products, which allowed It has laying strong foundations for its business in the year 2020. Thanks to our continuous eagerness to explore new markets and opportunities, we gained the ability to support strategic projects around the world and in all sectors including energy, transport, industry and many more in 2020, and we will definitely continue our outstanding performance in this regard in the year 2021.
In the recent meeting of the Board of Directors, Ducab also confirmed the appointment of Eng. Jamal Salem Al Dhaheri as the new Chairman of the Board of Directors, succeeding Dr. Ahmed bin Hassan Al Sheikh, who served as Chairman of the Board of Directors between 2019 and 2021. The chairmanship of Ducab’s board of directors is rotated every two years between its shareholders: “Holding ADQ” (via “Industries”) and “Investment Corporation of Dubai”.
Welcoming the engineer Jamal Salem Al Dhaheri, Dr. Ahmed bin Hassan Al Sheikh, the current Chairman of the Board of Directors, said: Last year gave us the opportunity to gain many lessons and experiences, and I am proud today that we were able to maintain our flexibility in the face of difficulties and our continuous determination to achieve our goals, and to provide this exceptional performance during last year. I am confident that the virtual engineer will continue to enhance this optimism and positive impression, in addition to harnessing the best skills and techniques to drive future growth.
Engineer Jamal Salem Al Dhaheri said: “Ducab’s business has achieved a remarkable strategic development during the past year despite the global pandemic that has cast a shadow over all sectors. I take this opportunity to commend the distinguished guidance provided by Dr. Ahmed Al-Sheikh during his administration, which witnessed many remarkable achievements in the various units of Ducab. Over the next two years, the Board of Directors will support the next phase of expansion in Ducab in line with the highest international safety and sustainability standards, while at the same time contributing to the broader economic transformation of the industrial sector in the United Arab Emirates.
Achievements of Ducab Business Units
Ducab Cable & Wire Factory:
The group’s largest business unit recorded a growth of 13% in profits, with the sales volume of its products reaching approximately 80,000 tons of conductors. The unit continued its operations during the pandemic without interruption, and continued manufacturing and providing cables and wires to its customers in the United Arab Emirates, which is the largest individual consumer of the unit’s products in the market, and it also continued to export its products to about 25 other markets.
Ducab Metal Factory:
The unit grew 33% in 2020 compared to the previous year, and includes the metalwork “Ducab Aluminum Company” and “Ducab Copper Rod Factory”. The “Ducab Minerals Business” is based on the company’s extensive experience in capitalizing on the global position of the UAE in the mineral market. The unit sold nearly 190,000 tons of mineral products in 2020 to more than 45 countries around the world.
For his part, the Ducab Factory for High Voltage Products saw a 42% improvement in gross margins in 2020 compared to the previous year. The plant is the first dedicated manufacturing facility for HV and UHV cables in the Middle East and today provides an extensive portfolio of comprehensive and custom designed cable solutions. In 2020, the plant sold nearly 6,000 tons of professional HV cables to numerous regional service companies and engineering, procurement and construction companies (EPCs) around the world.
Al Dhaheri added, “The cable and metal products that we provide are witnessing continuous growth in demand at the local and international levels. The National Strategy for Industry and Advanced Technology “Project 300 Billion” recently launched by the Ministry of Industry and Advanced Technology comes to provide a pioneering platform that allows us to consolidate our strategic partnerships along the industrial value chain. Products with the seal «Made in the UAE» to the whole world
In addition to diversifying its products and expanding its presence in the market, Ducab launched several localization initiatives during the past year, including the new “Bedayati” program, which aims to refine national skills in various sectors, to enable it to contribute to the process of developing the national industrial sector.