|Engineering Industries achieved production growth during the first quarter of this year
|Syria - 2006 May 23
The affiliated companies of the General Organization of Engineering Industries achieved a development rate in the value of their production of 11% during the first quarter of 2006 compared to the same period of 2005. The value of the actual production of the main products produced in these companies reveals that among the products which achieved sales reflected on the profitability of these companies are the reinforcing steel bars and cables. The companies producing these products could increase the value of their actual production in comparison with the same period of 2005.
The production situation of a number of these companies affiliated to the Organization reveals that the rates of execution of the production plan were different from one company to another. While General Company for Cable Industry in Damascus achieved 216% and Aleppo Company for Cable Industry 192%, the Metallic Constructions Company achieved 98% and General Company for Iron and Steel Products (Hadeed Hama) 82 percent.
From among the reasons causing the drop in the rate of execution in some companies, according to Eng. Ziad Kutayni, General Manager of the Organization, is the dependence of some companies on importing some of their requirements of raw materials from the foreign market, such as the steel billets for the General Company of Iron and Steel Products (Hadeed Hama) and coils for the Pipes Mill, as well as the growing competition in the domestic market between a number of the products beginning to get into the market with low specifications, in addition to opening the market for admission of products from the Arab countries, which has forced some companies to set a production plan for achieving the supply and demand balance to avoid stock piling.