The year ended with AED 2.4 billion, over double half year results

Dubai, March 19th, 2008: Ducab, the leading manufacturer of high quality power cables in the Middle East, announces its sale turnover results for the year ending 2007. With the first half of the year breaking all time record total sales at AED 1.1 billion, the year ended with an outstanding result of AED 2.4 billion, an increase in excess of 50% compared to 2006.

Commenting on Ducab's outstanding result for 2007, Ducab's Managing Director, Mr. Andrew Shaw said: "Once again Ducab's financial performance has exceeded all expectations. These phenomenal results demonstrate Ducab's strong presence in the increasingly competitive GCC market and its commitment to progress and technological improvements." He thanked all those that contributed to making it possible including the company's executive management team and employees, customers, agents, contractors and suppliers for their dedication and continued loyalty towards achieving these results.  

Ducab's exceptional 2007 financial results reaffirm the organization's leading regional position in providing advanced cable solutions within the industry. Ducab's expansion of the Abu Dhabi and Dubai factories and the company's focus on serving the needs of its customers, have all resulted in the achievement of these phenomenal financial results. "I am confident that we will continue to raise our performance and I am very optimistic that we will have another successful year ahead us", Mr. Shaw added.  

Ducab was established in 1979 as the first purpose-built cable manufacturing company in the UAE and is equally owned by the Government of Dubai and Government of Abu Dhabi. Its product range covers High voltage cables up to 132 kV, Ducab Powerplus medium voltage cables (up to 33 kV), low voltage power cables, control and auxiliary cables, wiring and lead-sheathed cables, and Ducab Smoke master, low smoke and fume zero halogen cables. Ducab is also well known as the distributor of Ducab Connect cable accessories.

Ducab has always emphasized on quality in its organisation and is certified ISO 9001: 2000 Quality Management Standards and ISO 14001 Environment Management Standards.

Over the last ten years, Ducab has undertaken many developments including the manufacture of Medium Voltage cables in 1998, the opening of the new Abu Dhabi factory in 2005, its PVC Compounding facility in Jebel Ali opening a year later in 2006, and its Copper Rod casting plant in Musaffah. All of these completed projects were finished on time and within budget. In January 2007 Ducab announced it's biggest ever expansion plan at a cost of AED 660 million, doubling its capacity.

With these developments completed Ducab continues to be the most advanced power cable company in the region provided by its World Class facilities. Striving to continue its development and growth, the company is already considering its next major steps forward.

-Ends-

About Ducab
Ducab is jointly owned by the Governments of Dubai and Abu Dhabi (50% each), has one of the most modern manufacturing units in the region, occupying an area of 590,000 square meters of land in Jebel Ali, Dubai and nearly 200,000 square meters in Mussafah, Abu Dhabi. Today, Ducab produces over 65,000 cubic copper tonnes equivalent of low and medium voltage cables, emerging as the leader and the first choice of prestigious customers in the Middle East. Ducab's product range covers High Voltage cables up to 132kV, Ducab Powerplus Medium Voltage cables up to 33kV, Low Voltage power cables, control & auxiliary, wiring and lead-sheathed cables, and Ducab Smokemaster (LSF) cables.

Ducab is an ISO 9001:2000 certified company for both its factories. The Abu Dhabi factory was recently awarded an ISO 14001 Environmental Management System certificate and an OHSAS 18001 Occupational Health and Safety certificate by BASEC (British Approval Services for Cables). The cables comply with and are approved to the full British Standard of the Loss Prevention Certificate Board (LPCB) and Lloyd's Register, UK. These certifications are the latest in a string of recognitions achieved by the company including a two time winner of Gulf Excellence Award, two time winner of Dubai Quality Award, Gold category 2004 & 1998.   Ducab was recently honored with the Investment Corporation of Dubai (ICD) Chairman's Award for Outstanding Economic Value Creation in the Industrial Sector presented by His Excellency former prime minister of Singapore in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, other Sheikhs and high-ranking officials. The ICD Chairman's Award is the world's first initiative to recognize outstanding economic value creation and corporate excellence achieved through good governance.

For further information please contact:
Ashish Chaturvedy
Marketing Manager
Ducab
achaturvedy@ducab.com
www.ducab.com
Tel: 04 8082500

Selina Kleinwort
PR Media Relations Manager
O2 Marketing Communications
selina.k@o2mc.net
Tel:  050 7553877

© Press Release 2008