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Dubai / WAM
Etihad Credit Insurance (ECI), the UAE Federal Export Credit Insurance Company, welcomed Dubai Cable Company (Ducab), to the trade insurance marketplace and will be supporting its expansion plans by offering international trade credit coverage.
Ducab, a UAE-based global player in the development, design, manufacture, marketing and distribution of copper and aluminium wire and cable products, works with customers around the world. This coverage will better position the company in its continued expansion from its home market in the UAE to the wider Middle East, Africa, Asia and Australasia, Europe, and the Americas. Ducab was founded in 1979 and is jointly owned by the Investment Corporation of Dubai and Senaat (General Holding Corporation, Abu Dhabi).
Ducab has signed up with ECI for a multi-buyer trade credit solution, which will mitigate the risks associated with the export of its products to international markets and will allow access to ECI’s information database platform of more than 90 million corporates.
Massimo Falcioni, CEO of ECI, said, “ECI has a strong mandate to strengthen UAE business capabilities to do business in international markets by providing innovative trade credit solutions that can help them accomplish their business goals and boost their expansion globally. Ducab’s landmark projects in the UAE are a testament to their commitment to product quality and customer service. It is this locally achieved success that has helped them leap into the global market. This strategic step, in turn, has made it essential for the company to select bespoke trade credit solutions that provide risk coverage to their businesses while accessing cross-border markets”.
Meshal Al Naqbi, CFO of Ducab, said, “Ducab exports more than 60 percent of its manufactured products to countries across the globe, firmly establishing its presence in international markets and enhancing the reputation of the UAE as a source of quality, world-class cable products. The current partnership with ECI will support our strong export business, enabling Ducab to continue to expand in markets around the world.”
The businesses protected under this policy include exports of manufacturing and trading of copper cables wires and accessories; copper rods and aluminium rods, wires and conductors; power distribution equipment; firefighting and safety equipment; power supply wires; fire-resistant and retardant materials; contracting and installation of electric power lines; aluminium conductive rods; and H.V. aluminium electric cables.