K5 builds first manufacturing facility in the UAE
The construction of the facility is progressing well with an estimated investment of $100m over the next few years
K5 Middle East, a firefighting products, solutions and technologies company, has announced that it is constructing its first manufacturing facility in the Middle East in Ajman, UAE.
The announcement was made on the side-lines of the company’s participation in Intersec 2017, the world’s leading trade fair for security, safety and fire protection taking place from 22-24 January, 2017 at the Dubai International Convention and Exhibition Centre (DICEC).
The construction of the facility is progressing well with an estimated investment of $100m over the next few years.
Alex Perfiliev, CEO, K5 Distribution, said: “We are highly excited with the construction of our first-ever manufacturing facility in the Middle East which will address the growing demand for fire safety solution in the region.”
The move complements a recent report by Frost & Sullivan that the GCC’s fire safety market is expected to grow at an average of 15% to touch $3.15bn by 2020.
The UAE accounts for 34% or $476m of the GCC’s $1.4bn fire safety market, driven mainly by the local construction boom.
Demand for fire safety systems and equipment is expected to get a major boost as World Expo 2020 draws near and as work on major construction projects progresses up to 2021. Sales of detection systems and equipment – including smoke and heat detectors and fire extinguishers – dominate the UAE’s fire safety systems and equipment market.
“We foresee a high demand for innovative fire safety solutions in the UAE as Dubai Civil Defence’s Strategic Plan 2017-2021 to reduce fire incidents by 10% and the ratio of death caused by fire per 10,000 people by 15%,” Perfiliev added.
While the UAE remains K5 Middle East key market, the company will explore other potential market in the region, including Saudi Arabia, Qatar, Bahrain, Kuwait and Oman to bring annual sales from the region to $100m per annum.
Evgeny Gabov, Director, K5 Middle East said: “K5 Middle East has very high expectations from the robust fire and safety market of the Middle East and particularly from the UAE which is a growing market.
"Alongside K5 SAFETY PATCH and K5 PATCHPAINT, the state-of-the-art manufacturing facility will produce paints, foams, coatings and construction materials equipped with fire extension capacity."
K5 Middle East’s stand will be located at C1-E16 at the Concourse Exhibition Space in front of Hall 4 of DICEC.