SLJB -- Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Cement Distribution in Dubai
WINDSOR, ON, Aug 11, 2006 (MARKET WIRE via COMTEX) -- Sulja Bros. Building Supplies, Ltd. (PINKSHEETS: SLJB) has currently secured a large source of cement at an extremely competitive price from eastern European suppliers. The UAE currently faces a shortage in the cement production industry by about 5 million tonnes per year, forcing it to import cement to facilitate the needs of the construction industry, according to a recent report by the Middle East Economic Digest (MEED).
A Sulja spokesperson stated, "We are currently receiving numerous requests for cement in the Dubai region and we are aggressively working to meet our client's needs." Moreover, CEO Steve Sulja stated, "We conservatively expect the sale of the cement in Dubai to reach 180 million dollars over the next twelve months. Furthermore we are negotiating a continuous and competitive supplier of structural steel. Another product in short supply in the region."
"We are encouraging cement importation to the UAE, because the market price at present is high and, as with all fair trade markets, we do not want to enforce price restrictions," said Sultan bin Sulayem, Executive Chairman of Dubai Ports Authority (DPA) and Chairman of Nakheel at the Press conference concerning Gen. Shaikh Mohammed's decision.
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SOURCE: Sulja Bros. Building Supplies, Ltd.
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