Emirates Steel Arkan attributes Dhs220m in savings to innovation

Emirates Steel Arkan Group has reported savings of Dhs220m in 2021 due to its strategy that focuses on harnessing innovation and incorporating future-proof solutions in its operations. The announcement was made to mark World Creativity and Innovation Day, which is observed on April 21.

Innovative ideas submitted by employees through the group’s strategic transformation programme ‘Namaa’ helped bring production improvements and innovations that contributed to these savings.

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 in February 2020. This marked the company’s efforts in implementing cutting-edge technologies and best practices. It also has three patents from the US Patent and Trademarks Office, including one in collaboration with Khalifa University, that showcase its focus on innovation.

Engineer 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.”

In 2021, Emirates Steel and Arkan Building Materials completed their merger.

Read: Arkan and Emirates Steel merge to create UAE’s largest steel and building materials company

In other news, in March, Emirates Steel recorded a nearly 50 per cent increase over the past two years in the number of its export markets in Europe, America, Asia, and MENA region. The company is the largest producer of heavy and jumbo sections and the only producer of hot rolled sheet piles in the region.

Read: UAE’s Emirates Steel’s exports reach 56 markets in 2020-21