Etihad Credit Insurance (ECI) has announced that it will support the expansion plans of Dubai Cable Company (Ducab), a leading player in the development, design, manufacture, marketing and distribution of copper and aluminium wire and cable products.

Ducab expansion plan wins Etihad Credit Insurance backingWelcoming Ducab to the trade insurance marketplace, ECI, the UAE federal export credit insurance company, said it will offer international trade credit coverage to the Dubai company.

Ducab works with customers from across the globe and this coverage will better position the company in its continued expansion from its home market in the UAE to the wider Middle East, Africa, Asia and Australasia, Europe, and the Americas.

Ducab was founded in 1979 and is jointly owned by the Investment Corporation of Dubai and Senaat (General Holding Corporation, Abu Dhabi).

The company had recently signed up with ECI for a multi-buyer trade credit solution, which will mitigate the risks associated with the exports of their products to international markets and will allow access to ECI’s information database platform of more than 90 million corporates, it stated.

CEO Massimo Falcioni said: "ECI has a strong mandate to strengthen UAE business capabilities to do business in the international markets by providing innovative trade credit solutions that can help them accomplish their business goals and boost their expansion globally."

"Ducab’s landmark projects in the UAE is a testament to their commitment to product quality and customer service. It is this locally achieved success that has helped them to leap into the global markets. This strategic step, in turn, has made it essential for the company to select bespoke trade credit solutions that provide risk coverage to their businesses while accessing cross-border markets," he added.

Ducab CFO Meshal Al Naqbi said the company exports more than 60% of its manufactured products to countries across the globe, firmly establishing its presence in international markets, and enhancing the reputation of the UAE as a source of quality, world-class cable products.

"The current partnership with ECI will support our strong export business, enabling Ducab to continue to expand in markets around the world," he stated.