Agreement signed to establish UAE’s first metallurgical laboratory
Officials of Emirates Steel Arkan Group and ADU during the signing of Memorandum of Understanding.
The laboratory will contribute to enriching the educational experience in this discipline and conducting advanced studies and research in metallurgy and the science of iron and steel.
The MoU was signed at Emirates Steel Arkan Group’s headquarters by Saeed Ghumran Al Remeithi, Group CEO of Emirates Steel Arkan, and Professor Thomas J. Hochstettler, Provost of ADU, in the presence of top officials from both parties.
Emirates Steel Arkan Group will offer comprehensive scholarships to 20 undergraduate Emirati students covering the four-year study, in addition to providing ADU’s College of Engineering faculty, staff and students with access to the company’s machinery for advanced research and getting acquainted with the equipment and tools used during steel manufacturing operations.
“The agreement with ADU is a continuation of our fruitful partnership following the success we have achieved together through the development of a Metallurgy concentration as part of the degree in Mechanical Engineering at ADU in 2020. Our collaboration plays a fundamental role in fostering scientific research and providing hands-on training programmes for ADU students at our premises in Abu Dhabi,” Al Remeithi said, adding that partnership boosts the industrial sector and prepares qualified cadres to lead the sector in the future in line with the UAE’s economic diversification plans.
Professor Waqar Ahmad, ADU Chancellor, said, “The lab will support our ABET-accredited programme Mechanical Engineering concentration in Metallurgy, developed in collaboration with the Group and will be a great addition to our existing state-of-the-art facilities. It will further support ADU’s research and innovation and provide our students with the research tools and hands-on experience they need to excel and develop their skills in metallurgy, giving them a competitive edge in the job market.
“This partnership comes as part of our strategy to work closely with industry to provide industry-relevant experience to our students and continually develop and update our programmes to ensure our education is relevant to the job market and respected by employers,” he added.
Emirates Steel Arkan Group signed an MoU last year with Khalifa University to implement collaborative research projects, provide scientific and professional training and development programmes, and offer technical consultations and student internships at Emirates Steel Arkan premises.
Last month Emirates Steel Arkan announced its first-quarter results with revenues of Dhs2.04 billion for the first quarter of 2022, compared to Dhs233.5 million in 2021.
The earnings reflect the positive impact of the merger in Q4 of 2021 of Arkan and Emirates Steel. Net profit was Dhs72.6 million compared to Dhs1.2 million for the same period in 2021, boosted by enhanced operational performance and higher sales volumes. The Group expects 90 per cent of full-year revenues in 2022 to derive from Emirates Steel and 10 per cent from the Arkan operations.
Commenting on the results, Hamad Abdulla Mohamed AlShorafa Alhammadi, Chairman of Emirates Steel Arkan, said, “The foresight of the merger of Emirates Steel and Arkan and the impact of the management changes that we have made are clearly evident in the strong financial metrics that the merged entity has delivered in the first quarter. The Group’s management has made great strides in enhancing efficiency and unlocking the full potential of the combined entity.
“As the largest building materials company in the UAE, Emirates Steel Arkan will play a key role in accelerating the nation’s industrial development, strengthening the ‘Made in the UAE’ brand and supporting the country’s increasingly diversified economy.”
On a stand-alone basis, Emirates Steel reported a net profit of Dhs61.1 million during the first quarter, a 265 per cent increase on the first quarter of 2021, bolstered by higher exports of rebar, sections and sheet piles to regions including Asia and North America.
Rebar sales rose by 8 per cent to 462,000 metric tonnes in the first quarter due to increased demand in Asian markets.
At the same time, sheet pile sales grew by 410 per cent in the quarter due to enhanced export sales to North American markets. Meanwhile, each of Arkan’s business units was profitable in first quarter. On a standalone basis, Arkan delivered a net profit of Dhs11.5 million, an increase of 942 per cent year-on-year.
In the first quarter, a programme was implemented to enhance the organisational structure of the Group to accelerate the integration, find new synergies and bring about greater efficiencies.
WAM
