26 November 2008
Limestone and marble manufacturers face the challenge of keeping their sales performance in tact for 2009 given the current economic scenario, said the only Palestinian firm exhibiting at the Big 5 show.
"It will be great if the good companies with limestone and marble and other related materials to construction will be able to keep their expectations high in such tough circumstances and reach break even ratios," said Arafat Asfour, Chief Marketing officer of Palestine-based Nassar Group, a limestone manufacture that has a representative presence in the UAE since 2004.
"Manufacturers have had their honeymoon in construction. But this has ended. So if they want to stay in business, then they have to focus on quality because clients now understand that it is quality that will make a project last longer."
The international financial crisis has affected the sales of natural limestone products from the Middle East. But Asfour said his company is continuing to supply to clients as scheduled. "We are not affected by any real estate or financial crisis. Most of our projects had started and the need for marble, limestone and fixing usually takes up to one year."
He called on major players in the market to take this period of slowdown in business as a time to reassess strategy. "It is an opportunity for re-structuring, re-evaluation and re-adjustment since the market has been a victim of speculators and brokers and not the real owners of the economy. It is time to do business the logical way."
The situation has also resulted in a new trend where new players have entered the region. "Countries such as Brazil, Turkey, Spain and Italy have been badly affected by their conventional markets in the US and they are looking for the opportunities here," said Asfour.
The UAE represents seven per cent of the company's market share with the rest spread over the GCC at 37 per cent (followed by international markets). "Our sales have increased by 20 per cent in 2008 from the previous year, but we look forward to keep it at the same level for 2009," he said.
The Nassar Group was set up in 1972 and begin export to global markets in 1984. "Due to the tough political circumstances, we expanded and had a manufacturing plant in Jordan and Oman that doubled our production facility," said Asfour.
Limestone and marble manufacturers face the challenge of keeping their sales performance in tact for 2009 given the current economic scenario, said the only Palestinian firm exhibiting at the Big 5 show.
"It will be great if the good companies with limestone and marble and other related materials to construction will be able to keep their expectations high in such tough circumstances and reach break even ratios," said Arafat Asfour, Chief Marketing officer of Palestine-based Nassar Group, a limestone manufacture that has a representative presence in the UAE since 2004.
"Manufacturers have had their honeymoon in construction. But this has ended. So if they want to stay in business, then they have to focus on quality because clients now understand that it is quality that will make a project last longer."
The international financial crisis has affected the sales of natural limestone products from the Middle East. But Asfour said his company is continuing to supply to clients as scheduled. "We are not affected by any real estate or financial crisis. Most of our projects had started and the need for marble, limestone and fixing usually takes up to one year."
He called on major players in the market to take this period of slowdown in business as a time to reassess strategy. "It is an opportunity for re-structuring, re-evaluation and re-adjustment since the market has been a victim of speculators and brokers and not the real owners of the economy. It is time to do business the logical way."
The situation has also resulted in a new trend where new players have entered the region. "Countries such as Brazil, Turkey, Spain and Italy have been badly affected by their conventional markets in the US and they are looking for the opportunities here," said Asfour.
The UAE represents seven per cent of the company's market share with the rest spread over the GCC at 37 per cent (followed by international markets). "Our sales have increased by 20 per cent in 2008 from the previous year, but we look forward to keep it at the same level for 2009," he said.
The Nassar Group was set up in 1972 and begin export to global markets in 1984. "Due to the tough political circumstances, we expanded and had a manufacturing plant in Jordan and Oman that doubled our production facility," said Asfour.
By Rami Eljundi
© Emirates Business 24/7 2008
