STME announces 88 percent annual revenue growth for 2001
Enterprise storage solution provider, STME has announced its stellar year-end results for 2001, indicating an 88 percent revenue increase year-on-year. These results indicate revenue growth of 158 percent over the last two years, and a 742 percent growth over the last five years, according to a company press release.
Several deals contributed to STME's rise during the last 12 months. In 2001, the company secured a networked storage order for Saudi Aramco, as well as the region's largest single order for enterprise storage from the Saudi Telecom Company (STC).
STME also implemented storage solutions for Emirates Airlines, Click Vodafone, MTC Kuwait, Mobinil, Jordan Telecom, Coca Cola, and Emirates Bank International. Some new clients that used STME’s services for the first time in 2001 are ADGAS, Ford Foundation, Caltex, German Oil & Gas Egypt and Coca Cola.
As part of its growth plans, STME may address new geographical territories, as well as different market segments in 2002, the press release confirmed. “2002 will also see STME delivering innovative storage solutions and services to smaller and medium-sized businesses as well as the enterprise market,” said STME Director Andrew Calthorpe.
With 13 offices across the Middle East—in Abu Dhabi, Al-Khobar, Bahrain, Cyprus, Dubai, Egypt, Kuwait, Oman, Qatar and Riyadh — and almost twenty years of experience, STME enables enterprises in the region to build information infrastructures. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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