Erith Group plans to invest in a RAK sealing plant
Erith, a leading supplier of high quality, premium sealing products and solutions to major players in the energy, electrical, chemical, nuclear, metals, mines and other vital sectors, announces the establishment of an industrial-scale production plant for sealing products – Erith Industries – in the Al Hamra industrial zone in Ras Al Khaimah.
The project will reduce and eliminate the need to import foreign sealing products and solutions and 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 FZ LLC will produce industrial gaskets using computers and CNC machines operated by up to 7-9 highly skilled people by December 2022.
The company is investing 4 million dirhams in a 6,500 square foot plot 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.
The Global Gaskets Market was valued at USD 69.45 Billion in 2019 and is projected to grow at a CAGR of 5.4% to reach USD 106.99 Billion by 2027, according to Coherent Market 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, 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.
“The new manufacturing unit in the United Arab Emirates will help us serve our customers in the Middle East faster and more efficiently. New investment in energy and utilities in the Middle East will increase the demand for industrial seals. Our products will help boost UAE exports to the rest of the world,” said Richard S. Edwin.
“The plant will begin production at a time when we believe the market will show significant growth due to growing demand for energy, electricity and industrial production,” he said.
Erith Group represents a number of global gasketing and sealing brands in the region, including industry leading brands such as Garlock and GPT, to name a few.
Garlock is a global manufacturer of high performance sealing solutions with an emphasis on safety, longevity and productivity. The company works closely with end-user customers, channel partners, original equipment manufacturers, industry associations and government entities to understand their unique sealing challenges and respond with innovative solutions that ensure the personal safety and environmental protection. With a history dating back over 130 years, Garlock today maintains a global presence of manufacturing and distribution facilities.
GPT is the world’s leading manufacturer of critical pipeline sealing and electrical insulation products. With an emphasis on safety, performance and reliability, we employ advanced engineering and manufacturing processes to meet the demanding demands of the oil & gas, water/wastewater, building and infrastructure.
Key points to remember
Global Industrial Seals Market is expected to grow at a CAGR of 5.7%, from $12.11 billion in 2022 to $17.86 billion by 2029
The global seals and gaskets market was valued at $69.45 billion in 2019 and is expected to grow at a CAGR of 5.4% to reach $106.99 billion by 2027
Erith Group announces theinvestment of 4 million dirhams in an industrial seal manufacturing plant in the UAE
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