KI Forecasts 100 Per Cent Increase in GCC Turnover |
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DUBAI - One of America's largest office furniture manufacturing companies, Krueger International, (KI) is forecasting a 100 per cent increase in GCC turnover in the 2009 financial year.
The strong growth forecast is due to a sustained demand for furniture across KI's key industry sectors including higher education and healthcare.
Steve Vellozzo, Middle East Sales Manager, KI said, "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-OpcoAdma-Opco
's headquarters in Abu Dhabi, and the Etisalat Tower in Dubai.
"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."
Despite a downturn in many parts of the world due to the global financial crisis, Vellozzo sees huge opportunities in non-business sectors in this region, which helped KI's profits to soar last year and participation in the Office Exhibition in Dubai in March is a key part of its GCC development strategy.
"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," Vellozzo added.
By Staff Report
© Khaleej Times 2009
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