EPI, the cornerstone of precision engineering in the UAE’s aerospace, oil & gas, and defence industries, has announced that it has joined forces with Lockheed Martin, a global defence technology company, to boost collaboration on the aerospace and defence sectors.

 

EPI, a major unit of Abu Dhabi-based advanced technology group EDGE, is a leading manufacturer of complex engineering components for the defence and aerospace sectors.

 

Following their Letter of Intent (LoI) signing at IDEX 2025, the EPI team and a Lockheed Martin delegation from Abu Dhabi visited PZL Mielec, a major Polish aerospace facility owned by Sikorsky, a Lockheed Martin company. 

 

PZL Mielec, known as the largest Lockheed Martin production site outside the US, is one of Poland’s most prominent aircraft manufacturers.

 

The visit centred around discussions on combining EPI’s advanced precision engineering capabilities, which include work on leading commercial platforms such as Airbus, Boeing, Dassault, and Leonardo, and PZL Mielec’s significant defence aerospace expertise, said a statement from EPI. 

 

The two parties explored opportunities for subcontracting, outsourcing, knowlEdge sharing, and implementing advanced manufacturing techniques, it stated.

 

According to EPI, the recent progress of the ongoing co-operation marks a commitment to sustainable industrial growth, workforce development and advancing global aerospace and defence capabilities. 

 

Together, Edge Group and Lockheed Martin aim to foster innovation, expand industry capacity, and reinforce the strategic roles of both organisations on the world stage.-TradeArabia News Service

Oman Cables Industry (OCI), a leading cable solutions provider in the sultanate, has announced that it has delivered solid results for yet another year with its sales turnover for 2024 soaring to RO269 million ($697 million), thus marking 8.3% year-on-year increase over the previous year. 

 

Announcing the results for the 12-month period ended December 31, 2024 at its Annual General Meeting today (March 29), Oman Cables Industry said its net profit rose to RO22.6 million, up from RO18.9 million the previous year, reflecting a 19.5% year-on-year increase. 

 

This growth was mainly driven by a careful commercial strategy that has favoured diversification and penetration in the various business areas and a strong push towards sustainable innovation, with the expansion of the product portfolio, including high-value-added solutions and services.

 

Driven by its vision of "Empowerment, Innovation, and Excellence", the Group is committed to sustainable growth, and guided by four key ambitions: Climate, Social, Innovation, and Governance, embedded in the business model of the company.

 

At the AGM, the shareholders reviewed and approved the Group’s financial results for the year 2024.

 

Through the partnership with Prysmian - a global leader in the cable manufacturing and system solutions for the energy transition and digital transformation - Oman Cables Industry continues to strengthen its position in and outside Middle East, it stated. 

 

The opportunities offered during 2024 were including access to a broader product portfolio of green cables and eco-friendly solutions, together with enhanced service offerings, from monitoring to tracking systems, covering the new needs of the diverse industries. 

 

This was made possible through accessing to 27 Prysmian cutting-edge research centers worldwide, accelerating the development of innovative products and integrated solutions, but also through leveraging global testing facilities, ensuring the highest international quality standards, advanced expertise and industry best practices, preparing and qualifying the company to compete with highest European standards.

 

On the solid performance, Chairman Cinzia Farisè, said: "During the last 5 years the company has increased its net profit tenfold, creating value for its shareholders, for its employees - who have since become shareholders of the group according to a rewarding profit share based system - and for the Omani community."

 

"As part of our commitment to Oman Vision 2040 and the journey toward net zero by 2050, Oman Cables is dedicated to driving sustainable growth. We have transferred know-how and technology to the Sultanate and today the company is able to compete outside the Middle Eastm," he stated. 

 

"We have created and nurtured a talent pool through advanced leadership programmes and our employees are appreciated in every part of the globe, where they have the opportunity to work at all Prysmian affiliates," he noted. 

 

:"Furthermore, we have opened our Omani Sustainability Academy, that enjoys collaboration with the best universities in the world, to the 33,000 Prysmian employees and to all our partners. Achieving results is our responsibility, giving back to the Omani community is our commitment. I am proud of our management and our team, the great Oman Cables family," he added.-TradeArabia News Service

The Saudi Ports Authority (Mawani) has annnounced that it has added Jeddah-Port Sudan Express (JPS) service by CULines at Jeddah Islamic Port, utilizing vessels with a capacity of 450 TEU.

 

This strategic move aligns with Mawani's objective of forging robust partnerships with key regional and international ports, solidifying Saudi Arabia's position as a pivotal logistics hub connecting three continents.-TradeArabia News Service