Tuesday 17 November 2020
FRISA, the global manufacturer of seamless rolled rings and open die forgings, announced the expansion of its footprint in the Middle East and North Africa (MENA) with the opening of its new office in Dubai.
As a part of its international investment and continued global expansion, the new office will further support the success of current and prospective customers as the company evolves and advances its forging solutions.
The MENA metal finishing market is estimated to witness a significant growth, at an estimated CAGR of over 4 percent through the course of the next five years, due to the increasing requirement for durable, wear-resistant, and long-lasting metal products.
Infrastructure development and technological advances are primarily being focused on by the MENA region, smoothening the market entry for multinational players into the country.
The move comes at a time when the region experiences relaxed restrictions and projects are expected to move in full swing following a period of stalemate and marginal excess inventory resulting from transport restrictions brought on by the pandemic.
The construction industry in the MENA area, especially in the UAE, has always been regarded as one of the most vital and dynamic sectors. Localizing availability of crucial material and adapting to newer technologies that eliminate the need for travel and imports or exports becomes of paramount importance.
FRISA will help the market handle the steel orders to lead the recovery of the market. It will support customers not only in the steel industry but across other sectors like Oil & Gas, Power Generation, and Aerospace.