Danube defies global crunch

Danube Building Materials say they had a 20% increase sales last month despite news of the global financial crisis affecting the UAE market.

Danube managing director Anis Sajan said they are also on target to achieve another 20% increase this month and does not believe they will suffer from a potential downturn in construction.

"The crisis is a panic, which started in the US, but it's not something the Gulf has experienced so much, it's more mentally affected us than really affecting us," he said.

"Probably the banks are becoming a bit more strict, and the contractors might have a problem with getting funds, at that time we might see a drop in sales, but so far so good."

Sajan said Danube has also safeguarded itself against any economic downturn by expanding their business across several industries such as plywood timber, steel, sanitary products, hardware, glass, aluminium and steel.

"It is difficult for me to comment on other companies, I've heard that there is a recession going on, but trust me, my company is selling quite well."

Sajan said they expect to do at least US $2.7 million (AED 10 million) at the Big 5 and have also launched two new luxury bath products at the event; a massage water bed worth $5,700 and a seven- seat outdoor water spa.

"The Big 5 has come at the right time because people were tending to stay in their shells, but now they're coming out, meeting with one another and this will get the blood flowing in the industry again."

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