Kuwait,11 April 2017

Metals and Recycling Company (MRC) – Kuwait’s leading eco industrial company and its subsidiaries, exhibited significantly enhanced earnings performance across various sectors during the financial year (FY) ended 31 December 2016 in comparison to the financial year ended 31 December 2015.  

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Core Businesses: Optimization and Operational Efficiency

The plastics and waste management business units’ contribution to the results came from strategic streamlining aimed at maximizing capacity, raising the efficiency of processes, cost optimization, and intelligent materials sourcing. In the metals and steel division, competitive sourcing and participation in more auctions to maximize capacity as well as an increased utilization of existing assets. Improved cash flow management and better streamlining of the sales cycle were also major contributors to the results.  

Subsidiaries

United Engineering Services (UES) continues to exhibit solid earnings performance as a result of its large base of ongoing government contracts, and successful bids for new government contracts, ensuring that its earnings performance will remain strong.  UES is a leading provider of HVAC, maintenance and other related services in the State of Kuwait.

Silver Ocean continues its growth as a provider of cleaning services for the public and private sectors, with strong performance as a result of successfully bidding for new cleaning contracts across various clients and customers.   

Kawoosh has positioned itself as a reputable player in the medical waste incineration industry as it seeks to bid for new contracts for medical waste incineration in Kuwait.

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About Metals and Recycling Company (MRC)
MRC is a leading eco industrial company headquartered and listed in Kuwait. Environmentally and socially committed, MRC has been offering sustainable waste management, recycling and manufacturing solutions to government, oil & gas, petrochemicals, industrial and commercial clients since 1987.

In its work, MRC adopts the highest global standards of quality and environmental sustainability and is both ISO and OHSAS certified. Through its various subsidiaries, MRC offers extended capabilities in hazardous waste management, HVAC and facilities management services.

Guided by ‘New Kuwait - Vision 2035’, MRC is spearheading the country’s eco industrial evolution: working with various government bodies, research institutions, manufacturing and industrial heavyweights to develop Kuwait’s sustainable future and transform the industrial landscape through collaboration, synergy and partnership.

For more information, please contact:
Stacy Lobo | Maisa’a Thaher 
ASDA’A Burson-Marsteller
+9652 2901571
Stacy.lobo@bm.com 
maisa.thaher@bm.com

© Press Release 2017