MUSCAT: National Aluminium Products Company (Napco), one of the leading extruders of aluminium profiles in the Gulf Cooperation Council (GCC), has registered a remarkable performance for 2015, achieving robust growth volume in the local market as well as exports.
The company earned revenues of OMR24.8 million, compared to OMR19.4 million in 2014, representing an increase of 28 per cent. In addition, Napco has gained a net profit of OMR0.78 million in comparison to OMR0.70 million in the previous year, registering a growth of 11 per cent.
Despite a challenging business environment for the aluminium extrusion industry, Napco has managed to increase the capacity utilisation of its existing plant, widen its product offerings, improve client services, and increase its focus on market initiatives, penetrating deep into domestic sectors to capture a wider market share. Moreover, the management implemented dynamic strategies throughout the year to enhance cost efficiencies in the future.
“The rock-bottom prices of crude oil have impacted the construction sector, which in turn has affected the aluminium extrusion industry. Nevertheless, we are optimistic about the government projects in the region, especially in infrastructure development and building construction, boosting our volume orders in Oman and the rest of the GCC in 2016,” said Robert Holtkamp, chief executive officer of Napco.
“In the near-term, Napco is bullish about the growth opportunities in established and new markets by offering improved services and products. Supported by a strong team, the management will continue to pursue its strategy of creating long-term value for all stakeholders while ensuring sustainability in operations to attain operational excellence,” Robert added.
To complement its growth plans, Napco has installed two additional extrusion presses in a phased manner and a vertical powder coating plant, which will commence commercial production by end of April 2016. The estimated cost of the expansion is OMR7 million, including related civil construction of a new factory.
Napco has been part of several landmark projects in Oman and the rest of the region. Its current portfolio in Dubai includes Citywalk, an upcoming retail destination on the junction of Al Wasl and Safa Roads; Onyx Tower, a 3-tower commercial project close to Emaar Business Park on Sheikh Zayed Road; and Dubai Design District (d3), an ambitious and innovative purpose-built destination for creatives.
In addition, it is working on Abu Dhabi Plaza, a mixed-use development underway in Astana, Kazakhstan. Napco’s long list of developments comprise the Supreme Court in Muscat, Salalah Airport, the Dubai International Airport Expansion (UAE), the BurjKhalifa (UAE), and the Al Rayyan Complex (UAE), to name a few.
