Home Business Emirates Steel Arkan Group saves AED220 million through innovation in 2021

Emirates Steel Arkan Group saves AED220 million through innovation in 2021

by Dubai Forum
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  • "حديد الإمارات أركان" تحقق وفورات مالية بـ 220 مليون درهم بفضل حلولها المبتكرة خلال 2021
  • "حديد الإمارات أركان" تحقق وفورات مالية بـ 220 مليون درهم بفضل حلولها المبتكرة خلال 2021

ABU DHABI, 21st April, 2022 (WAM) — Emirates Steel Arkan Group, the UAE’s largest publicly traded steel and building materials company, saved AED220 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 AED220 million in efficiency savings last year due to optimisation and production improvements. 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.

Emirates Steel has also received over the past few years three patents from U.S. Patent and Trademarks Office, including one in collaboration with Khalifa University.

Saeed Ghumran Al Remeithi, Group CEO of Arkan and CEO of Emirates Steel, said, “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. To that end, our dedicated Innovation team and Scientific Committee is accelerating the integration of a culture of research and development across the organisation while cooperating with external institutions to boost our scientific developmental efforts. Meanwhile, our plans for digital transformation are in line with the fourth industrial revolution and we aim to use disruptive technologies, including Artificial Intelligence and Virtual and Augmented Reality, to enhance our operations across the board and realise further financial gains.”

WAM/Lina ibrahim

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