| 21 Sep 2008 |
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US construction companies look to the Middle East to escape recession
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US pavilion at Big 5 PMV offers American manufacturers a platform to cash in on Gulf construction boom
Dubai, UAE, 21 September, 2008: American manufacturers of plant, machinery and construction vehicles are looking to the building boom in the Middle East to hedge their stocks against the continuing recession in the United States.
Indicative of the troubles in the US construction industry, the Dow Jones US Heavy Construction Index has seen a 40 per cent plunge in the last year from 698.76 points down to 402.54, and with greater drops predicted, US construction companies are aiming to increase their Middle East sales to save their profit margins.
Highlighting this new focus on non American markets, Rick Eisminger, International Marketing Manager of Iowa based on-site cement mixing truck manufacturers, CemenTech, said: "Currently the Middle East accounts for less than five per cent of our total sales, but we plan to increase that to 20 per cent in the next few years."
CemenTech have committed to their first ever Middle East exhibition appearance at the Big 5 PMV, the region's premier plant, machinery, and construction vehicle event taking place from 23-27 November at the Dubai International Exhibition Centre.
Organisers Streamline Marketing Group have created a dedicated US pavilion at this year's show for the first time, and Eisminger said: "We're taking part because, by putting us together with key developers and contractors in the region, it offers American companies an excellent opportunity to break into the Middle East market and take advantage of the construction boom there."
A strong US presence at the Big 5 PMV will be of particular interest to local and international businesses based in the Gulf who are displaying growing interest in American companies, particularly in light of the competitive rates they can offer due to the low US dollar.
"US companies make dependable trading partners because we have several decades of successful collaboration with the Middle East," said Woody Nash, Director of Business Development, Boomerang Systems, Inc., New Jersey. "It also helps that the dollar is weak compared to the Euro."
"Taking part in the Big 5 PMV, the biggest and best construction tradeshow in the Middle East for plant, machines and construction vehicles, is a great way to build relationships through face-to-face contact with prospects," added Nash, whose company is a leading manufacturer of automated robotic parking garages and automated self storage systems.
Catering to the growing interest in US based plant, machinery and construction vehicle companies, the US pavilion will feature many high end companies from across the country, including New York based Technology Trading Group LLC, suppliers of concrete paving equipment and California based FrameMax.
"We are setting up operations in the Middle East market and looking for exposure of our fast build, light gauge steel concrete composite panel system," said Phil Ellis of FrameMax, San Diego, California, who is joining the Big 5 PMV for the first time. "The dedicated US pavilion gives us the opportunity to realize our future plans to expand through the Middle East."
In addition, UAE exports to the US rose by 38 percent between 2000 and 2007, from US$971.7 million to US$1.339 billion.
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About the Big 5 PMV
The Big 5 PMV www.big5pmv.com will take place at Dubai International Exhibition Centre in November from 23-27 November 2008. Organised by Streamline Marketing Group in conjunction with dmg World Media, the event is co-located with The Big 5 www.thebig5exhibition.com
The Big 5 PMV has the support of key international organisations including UBIFRANCE (French Foreign Trade Council), Builders' Association of India and the UK's Construction Products Association.
For more information about Big 5 PMV, please contact Project Manager Samantha Kane-Macdonald, Tel: +9714 332 9029 or sam@smg-online.com
About the Big 5
The Big 5 is acknowledged as the largest and most important exhibition for the Middle East's building and construction industry. Held annually at the Dubai International Exhibition Centre (DIEC), in 2007, the Big 5 attracted 2,839 exhibitors, 30 government sponsored pavilions and 50,420 professional trade buyers representing 139 countries.
About Streamline Marketing Group
Streamline Marketing Group is a Dubai-based event management and marketing specialist with expertise in the turn-key management of exhibitions and conferences, and other international marketing and promotional projects.
Among the other major events organised by the Group are the Global Space Technology Forum (16th - 18th November, ADNEC, Abu Dhabi), and FM Expo, the region's only exhibition dedicated to facilities management.
For media enquiries:
Tony Foley
Director, Shamal Marketing Communications
Dubai
Tel: +971 50 455 9769
Email: tony@theshamalgroup.com
www.smc-pr.com
For further information please contact:
Danielle Fanning / Anya Leonard
Total Communications
Tel: + 971 4 336 9909
Fax: + 971 4 336 9905
Email: danielle@totalcompr.ae / anya@totalcompr.ae
© Press Release 2008
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