Emirates Steel Arkan, one of the largest national companies listed in the steel and building materials sector in the region, announced the change of its corporate identity to Emsteel Group (listed on the Abu Dhabi Securities Exchange under the symbol: (EMSTEEL), as part of its ambitious strategy to lead the sustainable industrial transformation scene and enhance its presence in global markets. The new identity and operating model of the group were launched during an official event held in the capital, Abu Dhabi, in the presence of dignitaries and more than 400 guests from the company’s customers, partners and employees.
The new visual identity of the group reflects the successful merger between Emirates Steel and Arkan Building Materials, which took place in the last quarter of 2021, resulting in the launch of the largest steel and building materials company in the United Arab Emirates, with a total asset value of AED 13 billion, a strong base and tremendous potential to achieve significant growth in local and global markets.
The Emsteel Group will be followed by two prominent business units: Emirates Steel, Emirates Cement, whose portfolio includes Al Ain Cement Factory, Emirates Block Factories, and Pipes and Arkan Bags. These two units will provide high-quality products to meet the growing demand in the UAE market and support the needs of the global construction and manufacturing sectors. Emsteel Group’s business structure is based on a flexible approach that allows the addition of new business units and companies when needed, supporting market growth capabilities and launching new production lines.
Emsteel Group will ensure that innovation and sustainability are at the core of its business strategy, by investing in the latest technologies and adopting best practices to enrich the market with advanced solutions, while increasing the use of clean energy in its business, and keeping sustainability in mind to provide more low-carbon products, in addition to prioritizing safety, quality and efficiency.
Emsteel Group will also contribute to supporting the National Industrial Strategy “Project 300 Billion”, as its share of the industrial activity in Abu Dhabi amounts to 11%, and in the iron market in the UAE 60%. The group is committed to supporting the digital transformation of the country’s industrial sector, having won five prestigious awards, including the UAE Digital Industry 4.0 Pioneers Award from the Ministry of Industry and Advanced Technology.
Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, said: “Today’s announcement of our corporate identity and business model is an important milestone in our growth and development journey, as the group continues to support its customers and provide more added value to its shareholders. This step reflects our ambitious future plans for expansion, growth and digital transformation, and represents our commitment to providing products, services and solutions to build a better world, and setting global standards for sustainability by developing a low-carbon supply chain in cooperation with our partners.”
“At Emsteel Group, we are committed to leading the decarbonisation efforts in the sector in support of the UAE’s Climate Neutrality Strategy 2050. Our use of clean energy sources has reached 80%, and we are the first steel manufacturing company in the world to capture its carbon emissions, becoming 45% less than competitors,” Al Rumaithi added.
