DuPont has opened its second office in the United Arab Emirates (UAE), focusing specifically on strengthening the company's relationships with the oil and gas industry. Additional markets include building and construction, automotive coatings, agriculture and food.
This investment adds to the presence the company has built in the region including long established offices in Istanbul, Turkey; Cairo, Egypt; Karachi, Pakistan; Dammam and Jeddah in Saudi Arabia; and an additional office in Dubai, UAE. The first office, in Istanbul, opened in 1992 and remains the hub for DuPont in the region.
"The Middle East is one of the fastest growing markets for DuPont today," said Ian Hudson, president, DuPont Europe, Middle East & Africa (EMEA). "DuPont sales in the UAE have increased more than 50% since this time last year. In the area of oil and gas alone, we have grown 20% annually over the past five years. DuPont has a number of innovations that are critical to meeting customer needs in the region. This new office will help us leverage our technology and strengthen our market presence."
EMEA, and in particular, Eastern Europe and the Middle East, contain most of the oil- and gas-producing assets and more than 70% of known reserves in the world. Exploration in remote and technically challenging areas has increased. DuPont sells products totaling more than $30 million into this industry in EMEA alone and estimates that the total opportunity for DuPont in the region exceeds $1 billion.