|
|
| |
|
|
Conares Aims to Double Turnover-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
3/2/2020 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
--------------------------------------------------------------------------------------------------------------- |
|
Mr Anoop Menon of Zawya reported that UAE based steel rebar maker Conares is aiming to double its turnover to AED 2 billion (USD 545 million) over the next two years by increasing capacity utilisation and growing exports with credit insurance. Conares CEO Mr Bharat Bhatia said “Our installed capacity in 2019 was around 700,000 tonnes. Out of that, we had sold around half-a-million tonnes, so we were at 75 percent utilisation. The installed capacity of one million tonnes became functional from the start of 2020.”
Mr Bhatia is hoping to use a credit insurance agreement with Etihad Credit Insurance to boost exports and double turnover. He said “The company was operating up to half a million tonnes with the existing bank lines or receivables discounting facility. He said “With our enhanced capacity, we believe we can achieve a turnover of AED 1.2 billion to AED 1.4 billion dirhams but with the support of ECI, we could cross AED2 billion in couple of years.”
Last week, the company announced it had signed up with ECI for a multi-buyer trade credit solution, which will minimise the risks connected to the exports of its products. The agreement also saw more than 10 banks come forward with investment support. Conares’ agreement with ECI will initially cover sale of USD 150 million worth of products. And, in a first for the UAE steel industry, the deal covers exports to the US, a key export destination for Conares and the EU.
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
-Sheet metal exhibition, Sheet metal expo, 2020 Sheet metal exhibition, 2020 Sheet metal expo, China Sheet metal exhibition, China Sheet metal expo, Laser Equipment exhibition, Laser Equipment expo, 2020 Laser Equipment exhibition, 2020 Laser Equipment expo, Laser exhibition, Laser expo
|
|
|
|
|
