Ducab Group confirms 36% gain collectively, metal division delivers 33% profit rise

The leading industrial manufacturing organization of UAE has declared that its substantial gains across all three division in 2020 have achieved a collective Y-o-Y profit rise of 36%, despite the Covid-19 global challenges.

Mohammed A. Al Mutawa, CEO of Ducab Group, said: “Ducab Group was able to achieve outstanding results while serving our customers internationally with the same level of excellence they always expect from us.”

“The company’s ongoing focus on product diversification provided Ducab with a strong foundation going into 2020. We have always been keen to explore new markets and opportunities and were able to support strategic projects around the world and across different vertical sectors including energy, transportation, industry, and many others in 2020. We will continue to do this in the year ahead.”

Ducab also confirmed the appointment of Eng. Jamal Salem Al Dhaheri is the company’s new Chairman replacing Dr Ahmad bin Hassan Al Shaikh in the last board meeting, who held the chairmanship from 2019-2021. The company’s chairmanship is rotatable biannually between Ducab’s equal shareholders ADQ and the Investment Corporation of Dubai (ICD).

Dr Ahmad Bin Hassan Al Shaikh, the outgoing Chairman, has welcomed Al Dhaheri into his new role and he commented: “The past year has offered us a lot of lessons. I am proud that we have remained resilient and determined to achieve our objectives, and delivered an exceptional performance last year. I am confident that Al Dhaheri will continue that sense of optimism while developing the best talents and technologies for future growth.”

The largest business unit of the group, Ducab Cable Business (DCB) provided a profit elevate of 13%, with a product sales volume close to 80,000 conductor tonnes. DCB have performed an uninterrupted operation throughout the pandemic by manufacturing all of its cables and wires in the UAE for customers in the country—which remains the division’s largest single consumer market—as well as about 25 export markets.

A rise of 33% profit Y-o-Y in 2020 was demonstrated by Ducab Metals Business (DMB). The metals operation comprises Ducab Aluminium Company (DAC) and Ducab’s Copper Rod Factory. DMB builds on the company’s extensive expertise in the field while capitalizing on the UAE’s position in the global metallurgy markets. DMB sold close to 190,000 tonnes of metal products in 2020 to over 45 countries internationally.

“There is continued demand locally and globally for the cable and metals products that we manufacture. Moreover, the recent launch of the ‘Operation 300bn’ strategy by the UAE Ministry of Industry and Advanced Technology will serve as a platform for us to strengthen our strategic partnerships across the industrial value chain. We look forward to being an active contributor to the programs being rolled out as part of this comprehensive strategy, and to continue taking Made in UAE products to the world,” added Al Dhaheri.