Alkendi is Fujairah Building Industries' first CEO
New strategy sees concrete product manufacturer appoint board member
Obaid Saif Rashed Alkendi has been appointed the first chief executive officer of Fujairah Building Industries, the company revealed today.
His tenure commenced at the beginning of this month, chairman Mohammed O. Bin Majed announced to the Abu Dhabi Securities Index.
An insider at the company told ConstructionWeek that the new position has been created “as part of company strategy” though refused to comment further.
FBI produces concrete products such as blocks, pavers and kerbstones. It has supplied in excess of 300 million blocks, 18,750,000 m2 Interlocks, 3,000,000 Lmrts kerbstone and 40 million tonnes of quarry products to various projects in the UAE since the company’s creation in 1978. The company is situated in the heart of the main city of the country’s fifth biggest emirate, with its depot in Al Hail.
The company’s net profit for the first half of 2010 stood at AED18.64 million, down 31% for the same period last year. First quarter net profits were AED11.25 million, down 10% on 2010.