Frost & Sullivan felicitated Metito with the 2009 Market Leadership Award in the Middle East Water and Wastewater Treatment Market. The award is recognition of Metito's leadership position in the regional water and wastewater treatment market, be it in terms of market share or market coverage. Metito's emphasis on excellence and economy has helped the company maintain its edge over competition in this fiercely competitive market with over 115 local and international players.
The Frost & Sullivan market leadership award is bestowed upon the company that has demonstrated excellence in capturing and holding significant market share within its industry or product markets, serving deeper pockets in market and generating immense visibility through initiatives connecting directly with its customers. The recipient of this award is chosen after assessing the nominees on the basis of predetermined criteria through extensive research. The research process involves collecting information through primary research with industry experts, market participants, end-users, and other value chain players, and supplementing that with reliable secondary information as well as our own ongoing proprietary industry research.
Fady Juez, Managing Director of Metito who received the award on their behalf commented "This is a great achievement and Metito is proud to be the recipient of this prestigious award. This is proof of our commitment to be the best at what we do and to provide the best possible services to our clients. Achieving this award wasn't easy, but we're glad to see that our efforts are starting to pay off."
Mr. Y. S. Shashidhar, Vice President & Country Director, South Asia-Middle East & North Africa, Frost & Sullivan, said, "Metito has demonstrated excellence in capturing significant market share within the industry by serving wide client base and market coverage. It has successfully leveraged its long standing presence in the region and deeper understanding of regional culture gained over these years to capture and hold a dominant market position. Because of its dominant market position in water and wastewater treatment systems market across the Middle East, we feel that Metito deserves the Market Leadership Award."
The Middle East water and wastewater treatment equipment market is currently valued at $1.265 billion. Presently the market is witnessing subdued demand and market prospects have been overshadowed due to short term concerns. However the long term drivers for the market remain intact. Accordingly the market is likely to clock an annual growth rate of 12.8% (CAGR) post 2010.