Dubai-based group invests in sealing plant to boost exports
Construction of the plant began in April this year. File photo
Erith Group, based in Dubai, has announced the establishment of an industrial-scale sealing products production plant – Erith Industries – in the Al Hamra Industrial Zone in Ras Al Khaimah, which will reduce and eliminate the need to import foreign sealing products and solutions and will eventually increase export to other countries after satisfying domestic demand.
Construction of the plant began in April this year. The plant will go into production in the coming months. Erith Industries will produce industrial seals using computers and CNC machines managed by 7-9 highly skilled people by December 2022. The company is investing 4 million dirhams on a 6,500 square foot land in the Al Hamra industrial zone. Phase I of the plant will be ready for production in December this year, followed by the development of phase II.
News of the new plant comes at a time when the global industrial seals market is expected to grow at a compound annual growth rate (CAGR) of 5.7%, from $12.11 billion in 2022 to $17.86 billion. dollars by 2029, according to Fortune Business Insights.
“Our decision to invest in the UAE is in line with the UAE’s economic vision and supports the ‘Make it in the Emirates’ program to increase value in the country, industrial production which will reduce dependence on imports and help the UAE become -dependent on industrial products,” said Richard S. Edwin, President and CEO of Erith Group.
“We bring highly reliable, best-in-class technology to the region with the support of our partners Garlock and GPT – global market leaders in industrial seals and gaskets – to help our customers achieve the highest level of safety and reliability. .
“Our investment in Erith Industries FZ LLC in Al Hamra Industrial Zone is a small step towards a self-reliant UAE economy and part of our grand vision to develop a great industry that will not only create well-paying jobs, but will help the countries earn foreign exchange through exports.
Gasket and gaskets are the materials used to prevent the passage of any foreign media back and forth, the object being gasketed under compression. Gasket is a mechanical seal that fills the space between two or more mating surfaces, to prevent leakage. The seals allow a perfect contact surface in which they can fill in the irregularities.
The main function of an industrial gasket or seal is to optimize the performance of a machine with its process reliability. Seals are also used in applications involving rotary and reciprocating motions. Industrial seals have played an important role in providing optimum efficiency and productivity over the past decades.
The global market has witnessed significant growth over the past decades and is expected to grow moderately in the future.