UAE Business: Emirates Steel Arkan nets $60m in savings through innovation – Gulf Digital News

UAE Business: Emirates Steel Arkan nets $60m in savings through innovation – Gulf Digital News

Emirates Steel Arkan Group, the UAE’s largest publicly traded steel and building materials company, saved AED220 million ($60 million) in 2021 due to higher efficiency as the Group accelerates its strategy to harness innovation and unlock future-proof solutions.

Reflecting its knowledge-based creative culture, innovative ideas submitted through Emirates Steel’s strategic transformation programme "Namaa" by employees helped deliver the saving to the company last year due to optimisation and production improvements, said the company in a statement.

Furthermore, in February 2020, Emirates Steel became the first steel manufacturer in the world and the first manufacturer in the UAE to receive the ‘ISO 56002:2019 Innovation Management System’ certificate, a recognition of the company’s success in implementing the latest cutting-edge technologies and conforming to best practices, it stated.

The Emirati group had also received over the past few years three patents from US Patent and Trademarks Office, including one in collaboration with Khalifa University, said a top official.

"As we celebrate World Creativity and Innovation Day, Emirates Steel Arkan Group is keen to stress the importance of embracing innovation and creativity in creating value for our shareholders and to support the development of the UAE’s industrial sector and ensure sustainable long-term growth," remarked Saeed Ghumran Al Remeithi,