US furniture manufacturer predicts solid growth in GCC business
Krueger International, one of the largest manufacturers of office furniture in the US, is expecting turnover in the GCC to increase by 100% during the 2009 financial year.
Growth is expected to be driven by sustained demand from key industry sectors such as higher education and healthcare.
“In the period from 2003 to 2007, the company’s turnover was $2 million. This figure skyrocketed to more than $4.5 million last year after winning a string of prestigious business projects such as Aldar Properties’ and Adma-Opco’s headquarters in Abu Dhabi, and the Etisalat Tower in Dubai,” said Steve Vellozzo, the company’s Middle East sales manager.
“We anticipate growth in all of our key sectors this year. With orders worth more than $5 million already placed, turnover in 2009 is expected to exceed $10 million.
The Middle East is one of the most interesting and exciting markets at the moment, with the higher education and healthcare sectors still going very strong,” he added.
The company has a newly established pan-Middle East structure and has appointed four new distributors to service the GCC, including the long-established Al Jeraisy Group in Saudi Arabia and Walltracts in Bahrain and Qatar.
A further part of its strategy to strengthen its standing in the region, the company will be present at the Office Exhibition, which is taking place at Dubai International Exhibition Centre from March 3 to 5, this year.
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