American office manufacturer forecasts 100 percent increase in GCC turnover
One of America’s largest office furniture manufacturing companies, Krueger International, (KI) is forecasting a 100 per cent increase in GCC turnover in the 2009 financial year.
The strong growth forecast is due to a sustained demand for furniture across KI’s key industry sectors including higher education and healthcare.
Steve Vellozzo, Middle East Sales Manager, KI said, “In the period from 2003 to 2007, the company’s turnover was US$2 million. This figure skyrocketed to more than US$4.5 million last year after winning a string of prestigious business projects such as Aldar Properties and Adma-Opco’s headquarters in Abu Dhabi, and the Etisalat Tower in Dubai.
“We anticipate growth in all of our key sectors this year. With orders worth more than US$5 million already placed, turnover in 2009 is expected to exceed US$10 million.” Despite a downturn in many parts of the world due to the global financial crisis, Vellozzo sees huge opportunities in non-business sectors in this region, which helped KI’s profits to soar last year and participation in the Office Exhibition in Dubai in March is a key part of its GCC development strategy.
“The Middle East is one of the most interesting and exciting markets at the moment, with the higher education and healthcare sectors still going very strong,” Vellozzo added.
KI will join more than 250 office suppliers and manufacturers at the Office Exhibition from 3-5 March at the Dubai International Exhibition Centre, an event which is widely considered to be the most important office management and design event worldwide.
Organised by dmg world media, the event’s exhibitor line-up is drawn from the Middle East, Europe, Asia, the US and Australia, and will include manufacturers and suppliers of workstations and seating, consultancy and design, IT systems and security, filing and storage, floor and wall covering, lighting, office equipment and supplies.
Sinead Bridgett, Exhibition Director, dmg world media said: “We have a large international presence at this year’s event with 12 national pavilions. The Spanish and Italian pavilions are the largest, comprising of more than 50 companies in total.”
“Many international office suppliers and manufacturers are looking to the Middle East for business opportunities, and taking part in the Office Exhibition for the unrivalled networking opportunities it presents,” said Bridgett.
Vellozzo said he had high hopes that the event will help KI to maximise their Middle East growth potential, by showcasing their healthcare, education, business and government office environments to the 7000 trade visitors expected at this year’s event.
KI has a newly established pan-Middle East structure and appointed four new distributors throughout the GCC last year including the long-established Al Jeraisy Group in Saudi Arabia and Walltracts as the company’s distributor in Bahrain and Qatar.