The Supra Industrial Co (Sico) recently launched its glass-door-fronted Vertical Cooler line in a complete range from 200 liters to 1000 liters. The Vertical Coolers are being sold to Original equipment manufacturers (OEMs) in the Middle East as well as exported throughout the Gulf region.
Coolers have a regional demand for about 60,000-70,000 units, according to company figures. Current Middle East demand for chest freezers and ice cream conservators, where Sico has an 85 percent regional market share, is set around 130,000 units annually.
SICO’s revised manufacturing strategy now encompasses a wider range of domestic appliances and household equipment for greater customer satisfaction. Based in the Jebel Ali Industrial Zone SICO is also the first company in the United Arab Emirates (UAE) to produce Gas Cookers using Italian technology. These Gas cookers will also be exported in the Middle East region. Future projects being considered are air-conditioning, refrigeration and vertical coolers such as soft drink dispensers.
A subsidiary of the Jumbo Group, Sico is reportedly preparing for an eventual float and listing on the UAE Stock Exchange. With an investment of 20 million dirhams ($5.44 million), Sico had a turnover of about Dh22 million from its Sharjah base, where it had a capacity of 30,000 units. In Jebel Ali Sico is expected to hit a turnover of Dh100 million next year.
The Jumbo Group is an international industrial and trading conglomerate comprising 28 companies and 20,000 employees in over 25 countries around the globe. The interests of the Jumbo Group include customer electronics and durables, tyres and tubes, brewing and distilling products, chemicals, machinery and equipment.
The Jumbo Group has a turnover of Dh6.30 billion. The flagship company, Jumbo Electronics Company Ltd. is capitalized at Dh120 million and has a turnover of Dh1.4 billion. It expects to go up to Dh4.5 billion by 2004. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
