Danube Building Materials said it aims to generate Dh1 billion ($272.4 million) in sales revenues by the end of 2008.

With a 72 per cent growth in its annual earnings last year, the company has projected that it could double its annual returns to hit the Dh2 billion ($544 million) mark by the end of 2010, based on the current uptrend in its overall growth and amidst the rapid expansion of the construction industry in the region.

'The company’s outstanding growth has been the result of its dedicated focus on establishing facilities in high potential production locations, such as its newest factories in Lianyungang, China and in Bahrain, which supply a significant bulk of the high quality products for its regional and international clients,' said Rizwan Sajan, chairman of Danube.

'In the UAE, Danube has undertaken a number of significant projects, including the delivery of its new Formica toilet cubicles to Dubai Mall, in addition to over Dh200 million in new projects in Ras Al Khaimah, Umm Al Quwain and Dubai Techno Park.'

'Product expansion has also been a highlight of the company’s operations in 2007, with its initial foray into steel trading, ceiling manufacturing, and glass and aluminum garnering considerable success.

“Our participation in events such as the Dubai Woodshow and Big 5 has significantly contributed to our accomplishments. Following our successful venture into new markets this year, we are also looking into penetrating the cement market and introducing more innovative building materials to our clients,” ,' Sajan explained.

Danube had formed important partnerships during 2007 and its alliances with Jotun Paints and Alubond USA has resulted in the inclusion of these world-renowned brands in the company’s product offerings.

For 2008, Danube has charted a specific action plan to target Saudi Arabia, Qatar and Kuwait where the demand for building materials is on the rise.

Considering the Middle East region as the market with the most growth potential, the company is keen on supplying the rising demand for key products such as steel, medium density fibreboards (MDFs), laminates, timber, glass, aluminium and others.

“Our vision as the leading supplier and one-stop shop for total building materials is to cater to the requirements of our entire customer base, from individual homeowners to contractors and developers working on mega projects across the region.'

'Our strategy is to maximise our inputs in the building materials sector and further boost our market position by reinforcing our regional expansion plans and further enhancing our product line, thereby enabling us to reach our sales revenue targets in the coming years,” Sajan added.-TradeArabia News Service