Fabtech International Limited, one of the largest and most technically advanced steel fabricators in the world, has posted 24% growth in its revenue in 2008 despite difficult market conditions.
“Our outstanding engineering capabilities and commitment to deliver efficient solutions to our clients have helped us achieve double digit growth even this year when the industrial engineering sector is going through a tough time,” said Dr. Harry Moreas, Chairman, Fabtech, commenting on the company’s impressive achievement in 2008. Fabtech added one more feather to its portfolio of achievements, when in 2008 it built and delivered the world’s biggest Kangaroo crane to Qatar Petroleum.
Fabtech International Ltd was established in 1995 in Jafza. In less than fourteen years of its operation, the company has seen more than 10 fold growth in its revenue and 20 fold growth in its facilities. Since 1995 the revenue of Fabtech International has grown from 17million to almost 173 million. Fabtech’s facility in Jafza during this period increased from 15,000 square metres to 330,000 square metres. Its state-of-the-art facility in Jafza today includes a 90,000 square metre industrial workshop that comprises 9 fabrication plants with integrated blasting and painting facilities, the largest in the region. It has the capacity to complete up to 700 tons per day.
“Jafza’s excellent logistics capabilities and business friendly approach has helped us immensely in achieving incredible growth. We are a fully export driven company. Almost 90% of our products are meant for overseas markets including the Americas, Europe, Asia, the Middle East and the CIS. The excellent facilities offered by the free zone and the port provided us distinct advantage over our competitors in terms of cycle and response time. We are able to offload material directly from the ship in record times. This tipped the scale in our favour as we are able to procure the material at competitive rates and begin the project almost immediately,” said Dr. Moraes commenting on the Fabtech’s success factors.
Fabtech today provides full range of turn key solutions to build and deliver cement plants to oil, gas, mining, petrochemicals and process industries all over the world. Its specialization includes fabrication, building and refurbishment of land and offshore rigs, drilling derricks, masts, substructures, mud systems and gas compressor skids, assembly, pressure vessels, plate-rolling, ship loaders and unloaders, EOT cranes and dished heads.
In the last thirteen years Fabtech has brought many firsts to the region. It built the first high power oil rig in 1997. In 2005 Fabtech built the largest oil rig in the world. In 2007 it built the first 3 dimensional bridge in the world for Abu Dhabi.
Fabtech is currently engaged in number of innovative projects in aviation and other process industries and is confident of maintaining the pace of its growth in 2009 as well.
© 2000 - 2019 Al Bawaba (www.albawaba.com)