Tue, 14 August 2012
MUSCAT -- Al Anwar Ceramic Tiles Company has decided to further expand its production facilities in Nizwa. This decision was taken by the Board of Directors during the board meeting held on Sunday. In the first six months of 2012, the company produced 6 million sq mtrs of tiles, with gross sales revenue of RO 18 million and a pretax profit of RO 3.7 million.
The production facility, which was commissioned in May, has got off to a very good start and the additional output from this plant is expected to favourably impact the performance in the second half of 2012, the company said in a press statement. Al Anwar is continuing to invest very significantly in updating its branding and merchandising platforms across the GCC markets, it added.
The new capacity expansion will entail the addition of a new production line with an output of about 3.5 million sq mtrs per annum, pushing up the total capacity to about 17 million sq mtrs per annum. This expansion project will cost approximately RO 5 million.
This decision to expand the capacity comes very quickly after an earlier expansion plan which began production in May this year. "The decision to quickly go in for another line is a confirmation of the growing market. It is also in line with our belief that the medium- and long-term demand prospects of our products in this region remain robust," an official said in the press statement.
"Timely addition of capacities is key to our strategic intent of maintaining and improving our position as the lowest cost producer of ceramic tiles in the region. We believe that this expansion plan will help us to further cement our cost and profit leadership in this industry in this part of the world," the official added.
© Oman Daily Observer 2012
