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Glass LLC, the glass holding company of Dubai Investments, is targeting growth across all its five subsidiaries in 2015 following rampant construction activities in Middle East and North Africa (MENA)
The firm aims to boost its 30 per cent market share in the coated glass sector across GCC countries. It expects sales of its Emicool Solite glass range from its subsidiary Emirates Glass to grow 200 per cent by the end of 2015, riding on market demand for the product which offers optimum control over sunlight.
Saudi American Glass (SAG), another Glass LLC subsidiary, is looking at a 20 per cent surge in sales during the year for its coated glass business. Another subsidiary Lumiglass Industries, which produces laminated safety glass, is targeting a 15 per cent increase in sales in 2015, while Emirates Float Glass is eyeing growth in both domestic sales and exports.
Glass LLC’s joint venture Emirates Insolaire, which specialises in coloured solar panels, is targeting sales of over 50,000 sqm for solar panels and photovoltaic models in 2015 as regional governments are moving towards implementing green building regulations and sustainable construction.
“The UAE’s construction industry is expected to show sustainable growth in the next few years, and has experienced enormous investment in real estate from public and private enterprises during the past few years. With Expo 2020 projects likely to take off over the next two years, we are on the verge of a major upswing,” Abdulaziz bin Yagub Al Serkal, general manager of Dubai Investments.
All five subsidiaries of Glass LLC boast strong order books for projects in GCC and have also started expanding production capacities. The firm is also tapping into new export markets including India, East Africa, South Africa, Turkey and other Asian countries. Glass LLC generated combined revenues of more than US$49mn in 2014.
The international demand for flat glass is forecast to rise 7.1 per cent per year through 2016 to reach 9.2bn sqm and the global market value will touch US$90bn, as per industry reports.