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Monday, December 4, 2023

Emirates Steel to create separate steel, construction materials divisions


Emirates Steel Arkan, the largest listed steel and building materials company in the UAE, has announced the launch of a new operating model to take full advantage of the combined strengths of its steel and building materials business as part of its vision and strategic ambitions.

The new operating model creates two separate business units – Emirates Steel and Construction Materials.

Emirates Steel and Construction Materials will each have dedicated leadership focused on driving growth in their respective divisions, reporting directly to Saeed Ghumran Al Remeithi, Chief Executive Officer, Emirates Steel Arkon Group.

Saeed Al Ghafri will serve as Chief Executive Officer of Emirates Steel, while Saeed Al Dhaheri will lead the Construction Materials business as Acting Chief Executive Officer and Vice President Commercial.

Al Remeithi said: “We have carefully considered the most efficient way to enable the company to leverage the combined strengths and synergies of the UAE’s steel and construction materials companies to achieve our strategic ambitions and growth aspirations.”

“The result of this work is a new operating model designed to propel us forward, optimize our operations and pave the way for future success,” he said.

“The new operating model will also be guided by our new unified values ​​(People, Responsibility and Innovation), based on a One Team Mindset culture, which will enable us to achieve our strategic goals effectively and efficiently while providing our Employees are given more opportunities to thrive,” he added.

Emirates Steel and Arkan Building Materials will merge in 2021 to form Emirates Steel Arkan.

Al Remeithi said the new business unit will also be supported by centralized finance, human capital, technology, strategy and transformation, and new project functions.

Since then, the combined entity has embarked on a transformation journey to unify and streamline the division, continue to prioritize the safety of people, identify efficiencies across operations, strengthen its financial position, and develop a decarbonization roadmap to achieve net zero emission.trade arab news agency


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