UAE’s RAK Ceramics eyes Saudi Arabia for expansion

  • Date: 23-Sep-2020
  • Source: Arabian Business
  • Sector:Retail
  • Country:UAE
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UAE’s RAK Ceramics eyes Saudi Arabia for expansion

UAE giant RAK Ceramics has revealed plans to expand into the Saudi market.

The ceramics manufacturer currently conducts 70 percent of its operations from its 120 million square metre production facility in Ras Al Khaimah, with further facilities also in India and Bangladesh.

CEO Abdallah Massaad told Arabian Business plans were afoot to add to this.

He said: “We have a plan to increase further, which we are looking at. We are still looking at Saudi as the main expansion for us.”

In a recent results announcement, it was revealed that the company's revenue for the second quarter in all markets except Saudi Arabia was negatively impacted due to the global Covid-19 pandemic.

RAK Ceramics, which sells to more than 150 countries worldwide, registered a total revenue of $112 million, down 37.3 percent year-on-year, blamed