International Rubber Company [IRC] – a subsidiary of Masharie LLC, the private equity arm of Dubai Investments PJSC and one of the leading manufacturers of synthetic rubber profiles in Middle East, has achieved sales worth AED 34 million in the first six months of 2014, riding on the crest of unprecedented construction boom in the UAE & region.
The company achieved strong sales in the UAE, Kingdom of Saudi Arabia, Kuwait, Qatar and Bahrain amidst hectic real estate activity and escalated demand for its rubber insulation products.
Sales in the UAE in the first half of 2014 were worth AED 18 million, compared to AED 35 million for the entire 2013, while KSA in H1 2014 was AED 7.3 million [AED 13 million in 2013] and Qatar sales in the first six months this year was AED 4.5 million [AED 6 million last year].
The company, which operates a 10,000 square metre facility at Dubai Investments Park [DIP], is also targeting the African market given the massive growth potential on offer.
“IRC has witnessed a robust growth this year, and the encouraging sales are reflective of the massive demand for our top-quality products. We are associated with some of the most prestigious projects in the UAE and Gulf region, which reinforces our reputation as the leading manufacturer of synthetic polymer and rubber products in the Middle East. We have ambitious growth targets in place – and our high-quality products and services will augur well for us in this competitive landscape,” said Mr Khalid Al Jarwan, General Manager of Masharie LLC.
Notable projects undertaken by IRC included the Presidential Palace in Qatar, King Abdullah Financial District [KAFD] in Riyadh, Masdar City, Jalila Hospital, Yas Mall, Fairmont Hotel, FEWA offices, Sorouh Commercial Building, Hilal Bank and Saraya Residential Houses in the UAE, and Muscat International Airport in Oman, among others.
The company’s success is further accentuated by its commitment to operational excellence and innovation. “Our future strategy centers on further enhancing our world-class product offering such as the introduction of bearing pads, which will meet the diverse customer requirements in the region,” Mr Al Jarwan added.
Last year, the company launched Siltech – a general-purpose permanently elastic silicone sealant based on acetic acid with long-lasting, UV and color protection which is used for sealing, bonding of construction indoor and outdoor applications, and for sanitary sealing jobs in the kitchens and bathrooms.
IRC is also the authorized distributor of silicone sealants for Momentive Performance Materials (formerly GE Bayer Silicones) in the UAE, Oman, Qatar, Kenya and Tanzania. The company is also the authorized distributors for 3M construction and electrical products in the Kingdom of Saudi Arabia.
IRC’s industrial profiles are engineered to meet the tough environmental and operational conditions of the Middle East, and are known to meet relevant ASTM, BS, ISO and DIN standards.
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