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FINANCIAL NEWS
UAE- Mapei expects 40% surge in 2012’s sales
08 Nov 2012
(MENAFN) Mapei announced that it forecasts its sales for 2012 to surge 40 percent from a year ago, reported Khaleej Times.
Stefano Iannacone, the managing director of Mapei’s UAE subsidiary said that over the past 5 years, the global manufacturer of adhesives, sealants and chemical products for buildings, has invested over USD60 million in the region.
He added that the UAE subsidiary Innovative Building Solutions (IBS-Mapei) started output in February 2009, at its 40,000 sq m facility at Dubai Investments Park.
He noted that the bulk of the firm’s output goes to the UAE market, whereas the rest is exported to other Gulf countries, East Africa, Iraq and Pakistan.
It is worth noting that Mapei, which has 65 subsidiaries with 62 output facilities in operation in 30 countries, exports over 20,000 tons of products on a daily basis to more than 55,000 customers all over the world.
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