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FINANCIAL NEWS
Dubai’s Ducab reports 39% increase in 2011 sales
03 Mar 2012
(MENAFN) Dubai-based Ducab reported 39 percent increase in sales to USD1.3 billion for 2011 compared to 2010 and repaid USD63.9 million debt, Arabian Business reported.
The cables producer said sales to the utilities sector increases 25 percent, while sales to the oil, gas and petrochemical sectors jumped 250 percent.
Ducab’s cables and copper products are currently sold in over 40 countries worldwide, with new markets set to be added in the future. Overseas sales account for 60 percent of Ducab’s total sales.
Last year, Dubcab launched Ducab HV, an USD136 million high voltage cable plant, and a joint venture between DEWA, ADWEA and Ducab.
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