UAE cable maker Ducab Group appointed Mohammed Abdul Rahman Al Mutawa as its new chief executive as the company aims to increase its exports to more countries around the world.
Mr Al Mutawa, who was the chief executive of Ducab's cable business, will be the first Emirati to hold the position, Ducab said in a statement on Thursday. He replaces Andrew Shaw, who led the company for 13 years and will take on the role of board adviser for Ducab.
“This transition is evidence of Ducab’s commitment to the sustainable growth of the business and the UAE economy, paving the way towards a bright future upon the strong foundation of successes established under Andrew’s leadership,” Ahmad Bin Hassan Al Shaikh, chairman of Ducab Group, said.
Ducab is a subsidiary of Abu Dhabi's industrial holding company Senaat, which is part of ADQ, one of the region’s largest holding companies with a broad portfolio of enterprises spanning six sectors in Abu Dhabi. The Investment Corporation of Dubai also has a stake in the company.
During his tenure as the chief executive of the Ducab cable business, Mr Al Mutawa focused on growing the wire and cables export business that currently generates about 25 per cent of revenues for the company.
“As the new group chief executive, I look forward to Mohammed Al Mutawa continuing to work with all our stakeholders to grow Ducab, taking more ‘Made in UAE’ products to the world and developing local talent within the sector,” Jamal Salem AlDhaheri, vice-chairman of Ducab Group, said.
In recent years, Ducab Group has expanded its geographical footprint. The company's export markets have doubled to more than 30 countries over the past decade, with ventures such as Ducab Aluminium Company and Ducab Metals both contributing to growth.
The company has about 1,500 employees and posted revenue of $1.3 billion in 2019. It currently operates six manufacturing facilities across four sites in the UAE.
Mr Al Mutawa joined Ducab from Emirates Global Aluminium, the largest industrial company in the UAE outside the oil and gas sector, and played a key role in developing the company’s five-year strategic plan, according to the statement.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Results
6.30pm Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m, Winner Bandar, Fernando Jara (jockey), Majed Al Jahouri (trainer).
7.05pm Meydan Classic Listed (TB) $175,000 (Turf) 1,600m, Winner Well Of Wisdom, William Buick, Charlie Appleby.
7.40pm Handicap (TB) $135,000 (T) 2,000m, Winner Star Safari, Mickael Barzalona, Charlie Appleby.
8.15pm Handicap (TB) $135,000 (D) 1,600m, Winner Moqarrar, Fabrice Veron, Erwan Charpy.
8.50pm Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m, Winner Secret Advisor, William Buick, Charlie Appleby.
9.25pm Curlin Stakes Listed (TB) $175,000 (D) 2,000m, Winner Parsimony, William Buick, Doug O’Neill.
10pm Handicap (TB) $135,000 (T) 2,000m, Winner Simsir, Ronan Whelan, Michael Halford.
10.35pm Handicap (TB) $175,000 (T) 1,400m, Winner Velorum, Mickael Barzalona, Charlie Appleby.
Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
