Rubber World Industries (RWI) has announced plans to invest $2m (AED7.35m) into the expansion of its production facility in Ajman, UAE.
RWI, which is part of Shaikhani Group and the official manufacturer of Gulf-O-Flex in the Gulf and Southeast Asia, said that the expansion would involve the development of additional production lines, new equipment, and a laboratory for research and development (R&D).
The expansion project is expected to triple RWI’s production capacity by the end of Q1 2017.
Rizwan Shaikhani, managing director of RWI, said: “The burgeoning demand for high-quality rubber insulation products has steered our focus towards increasing our production capacity, while utilising the latest R&D technologies to further enhance our products’ performance.
“As we see extensive expansion opportunities within the regional and global markets, increasing the quantity and […] quality of our products are our foremost goals for 2017.”
In addition to boosting RWI’s production capacity, the expansion will allow the firm to add glass wool thermal insulation to its line of products.
RWI also revealed that it is considering the establishment of new facilities, both domestically and overseas, in a bid to drive revenue growth and increase sales in its existing markets.
The manufacturer recorded more than $11.4m (AED42m) in sales revenues during 2016, and estimates that it is currently supplying 55% of the region’s rubber insulation pipes and sheets.
RWI will be showcasing its complete range of heating, ventilation, and air-conditioning (HVAC) products at The Big 5 2016, which will take place in Dubai next week.
“Events like The Big 5 give us an opportunity to strengthen, as well as establish new business relationships with customers from Europe, Australia, America, and […] other regions, which is why we are having a bigger presence at this year’s event,” added Shaikhani.
The Big 5 2016 will take place at Dubai World Trade Centre (DWTC) from 21-14 November.