18 FEBRUARY 2014AlCircle.com
Dubal profits increase due to lower manufacturing costs
Edited by : AL CIRCLE
2 min read
Dubai Aluminium (Dubal) reported a 13 % yearly increase in their net profit to Dh1.79 billion as technological innovations have lowered manufacturing costs.
“Dubal remains one of the most profitable corporations in the Emirate of Dubai,” said Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, UAE Minister of Finance and the chairman of Dubal.
Despite the revenue falling about 3% to Dh9.5bn last year, the significant cost reductions were followed by adoption of “DX technology”. This technology allows the production of aluminium using smaller amounts of electricity.
The production of company was over 1 million tonnes last year.
Improvement in safety was witnessed, as injuries reduced by 39% compared to the last 3 years, according to Dubal.
Emirates Aluminium (Emal), a joint venture between Abu Dhabi’s Mubadala Development and Dubal, purchased new production facilities online in the month of September and aims to meet the annual production capacity of 1.3 million tonnes by this year end.
Last year Dubal and Emal announced their plans to merge to a company called Emirates Global Aluminium. The new company is anticipated to have a market value of US$15bn, the Financial Times says, is expected to become the fift largest producer by volume.
Khaldoon Khalifa Al Mubarak, Mubadala’s chief executive, described the mooted company as “a major industrial champion and engine of economic development for our people”, at the time of its announcement.
“Dubal remains one of the most profitable corporations in the Emirate of Dubai,” said Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, UAE Minister of Finance and the chairman of Dubal.
Despite the revenue falling about 3% to Dh9.5bn last year, the significant cost reductions were followed by adoption of “DX technology”. This technology allows the production of aluminium using smaller amounts of electricity.
The production of company was over 1 million tonnes last year.
Improvement in safety was witnessed, as injuries reduced by 39% compared to the last 3 years, according to Dubal.
Emirates Aluminium (Emal), a joint venture between Abu Dhabi’s Mubadala Development and Dubal, purchased new production facilities online in the month of September and aims to meet the annual production capacity of 1.3 million tonnes by this year end.
Last year Dubal and Emal announced their plans to merge to a company called Emirates Global Aluminium. The new company is anticipated to have a market value of US$15bn, the Financial Times says, is expected to become the fift largest producer by volume.
Khaldoon Khalifa Al Mubarak, Mubadala’s chief executive, described the mooted company as “a major industrial champion and engine of economic development for our people”, at the time of its announcement.
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