U.A.E., Iran Presence Helps Bolster Ziehl-Abegg
A new location in Dubai and strong growth in the Iranian market are among reasons Germany-based Ziehl-Abegg, manufacturer of elevator motors, drives and controls, is optimistic about the future as it enjoys worldwide sales growth and increases its workforce. The company reports sales expectations in Asia and the Americas were “significantly exceeded,” and described its Dubai location in the JAFZA One office building in the Jebel Ali Free Zone as a good starting point for business in the Middle East. CEO Peter Fenkl observed even crisis-hit countries like Iran are reporting growth, especially in the elevator-motor business. Other countries, where sales were halved due to political upheaval a few years ago, have recovered well, now posting sales percentage increases in the double-digit range. The company increased its global workforce from 3,550 approximately a year ago, to 3,900 now. Many factors cast a cloud over political and economic development, Fenkl said. Still, the company began 2018 with confidence due to strong orders in the first few weeks of the year and new products he said would “set records in energy efficiency.” Ziehl-Abegg plans to continue to invest in its global production and service network.