Gulf Construction Online - Zamil targets 50 per cent growth

Saudi Review

Zamil targets 50 per cent growth

01 March 2004

Zamil Steel has unveiled an ambitious strategic plan, which expects to see the company grow bigger, stronger and more profitable over the next five years.

Zamil Steel will grow more than 50 per cent over the period through investing into new production facilities, acquiring new companies, complementing product technologies and diversifying into new fields relevant to the industry, said Khalid Al Zamil, president of Zamil Steel at the company’s recent annual sales conference in Cairo, Egypt.
It is an ambitious yet achievable target, he said.
The conference focused on new methods aiming towards enhancing the skills of the company’s sales team in order to meet its commitment of providing high standard services for its clients.
“2003 was a year of significant progress, where Zamil Steel, once again demonstrated clearly that based on its strong partner network and advanced infrastructure, it could overcome a challenging global economic environment,” said Al Zamil.
“By adopting an innovative product development and sales and marketing strategy, we continue offering competitive solutions to the international market.
“In spite of difficult market conditions – and although slightly lower than our expectations – we reported earnings above the industry average.
“We see positive momentum in each of our three business segments as we begin this year and are also encouraged by early indications of economic recovery where we are expecting year-on-year growth in revenues and margins in each business segment,” he said.
“The development of new markets ensures the company’s continued growth to the advantage of our clients, partners and stakeholders. Zamil Steel’s 2004 sales conference serves as a chronicle of what we have achieved in the past year and what we can achieve in the future,” said Al Zamil.
Zamil’s commitment to quality can be measured from the fact that its Asian operation – Zamil Steel Vietnam (ZSV) – was recently awarded the prestigious ‘Golden Dragon Prize’ for the year 2003.
The award, conferred by the Vietnamese government, reflects the performance of foreign enterprises operating in the country and recognises their contributions to the Vietnamese economy.