Dubai-based Erith, a leading supplier of high-quality and high-end sealing products and solutions to the key players in the energy, power, chemicals, nuclear, metal, mining and other vital sectors, has established an industrial-scale production plant of sealing products, Erith Industries FZ LLC.
The plant, which will be located at the Al Hamra Industrial Area in Ras Al Khaimah (RAK), is expected to reduce and eliminate the need to import foreign sealing products and solutions and will eventually increase the export to other countries after meeting the domestic demand.
The construction of the factory started in April this year and will go into production in the next few months. Erith Industries FZ LLC will produce industrial gaskets with the help of computers and numerically controlled machinery managed by as many as 7-9 highly skilled personnel by December 2022.
The company is investing $1.1 million in a 6,500 square feet plot of land. Phase I of the factory will be ready for production in December this year, to be followed by the development of Phase II.
“Our decision to invest in the UAE is in line with the economic vision of the UAE and supports the ‘Make it in the Emirates’ program to increase in-country value, and industrial output that will reduce import dependency and help the UAE to become self-reliant in industrial products. We are bringing the highly-reliable and world-class technology to the region with the support of our partners Garlock and GPT, leaders in industrial seals and gasket market worldwide, to help our clients achieve the highest level of safety and reliability.”
The new factory comes at a time when the global industrial seals market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.7 percent from $12.1 billion in 2022 to $17.8 billion by 2029, according to Fortune Business Insights.