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RUBBER WORLD INDUSTRIES (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, revealed that it has supplied a total of 120 containers of rubber insulation products worth US$1.22mn to customers based in Iran in 2009.
In addition, the company also announced that it is gearing up to increase its exports to the country amidst projections that the infrastructure market in Iran is poised to hit US$31.3mn by 2013. RWI supplies its products to Iran via its local partners Mahan Sanat-e Royal and Ideal Kouhbor.
According to the ‘Iran Infrastructure Report 2009’ release by BMI, the local infrastructure market will expand by 2.77 per cent in real terms this year, although it will not return to pre-crisis levels over the next five years. The report adds that the sector can expect an annual average growth rate of 4.3 per cent in real terms until 2013, given that oil revenues contribute over half of the central government's total fiscal revenues. With aims to leverage the opportunities within Iran’s infrastructure sector, RWI completed its successful participation at the recently concluded ‘8th International HVAC & Installation Exhibition’ held in Tehran.
“Based on market projections and our observations of the developments happening in Iran, we are expecting this market to become an important regional business hub and a key market for our products,” said Abu Baker Shaikhani, Chairman, Rubber World Industries. “Our goal is to increase our client base in Iran, especially during this period of significant developments and infrastructural growth being seen in the country. We have identified the right strategies, which can benefit customers in Iran, and we are preparing to further expand the reach of our high quality insulation products within this market.”
RWI’s product offering includes an entire range of Gulf-O-Flex products such as environmentally-friendly, CFC-free, flexible elastomeric thermal insulation tubes, sheets and rolls. It also offers Gulf-O-Flex Continuous Coil, a system designed for convenience and engineered for air conditioning applications; and Gulf-O-Tape, a flexible and self-adhesive reinforcement insulation foam tape; and a host of other products designed to retard heat and control condensation drip from chilled and refrigeration systems, and reduce heat flow on hot systems.
“The burgeoning demand for high quality rubber insulation products has steered our focus towards increasing our production, while utilising the latest technologies to further enhance our products’ performance. Backed with a growing repute that makes our products the primary choice for customers around the world, we are expecting to cover more domestic markets in Iran by leveraging the strengths of our local partners,” concluded Shaikhani.