High-pressure hydraulic tools manufacturer Hi-Force will soon have a permanent presence in place in Saudi Arabia as part of its efforts to increase its market share within the GCCs largest economy
Speaking to Oil Review Middle East at ADIPEC last week, Hi-Force regional director Craig Brown said, "Our competition considers us the market leader in the Middle East and the next way of growing our business in the region is by having this presence in Saudi Arabia, which could pump a further 10-15 per cent on our regional turnover."
In spite of the difficulties endured by many of the region's economies in recent years, Hi-Force has continued to diversify its outreach by targeting growing markets such as those in Russia and Kazakhstan from its Middle East office.
In 2012 Hi-Force completed a skidway maintenance project in the Azerbaijani capital of Baku (see page 106 - Oil Review Middle East Issue Seven 2012), which Brown has described as the group's biggest contract to date and one that provided a healthy boost to the firm's Middle East operation.
"The last 12 months have gone very well for us and we have conducted some great work in the UAE this year, while Qatar, Kuwait and Saudi Arabia have all continued to chug along nicely," Brown remarked. "But for us there is more potential in Saudi Arabia than anywhere else in the region."
According to Brown, the company has targeted 100 per cent growth for the first 12 months of having a full-time presence in the Kingdom, with growth of 500 per cent targeted within the first three years of full-time operations within the country.
"We are still market leader in the UAE and I believe you should keep your base strong. Abu Dhabi has put a lot of money into projects this year and our activities in the emirate have gone very well. But I don't believe you can stand still and I want to double profits in Saudi Arabia within 12 months," he added.
"There is, however, a lot of education on hydraulic tools that still needs to be conducted in Saudi Arabia, as well as a lot of untouched hydraulic tools requirements issues that we can help move forward."
Hi-Force country manager for Saudi Arabia, K Bala, who currently works out of the firm's Abu Dhabi office will be swapping the emirates for the Kingdom, and will provide the firm with its full-time presence in Saudi Arabia.
"You do not buy the type of equipment we supply out of shops and you need to go to clients' sites to provide solutions, so I'm confident that our representative in the country will do well and despite delays in paperwork's we should have our man there before the end of the year," stated Brown.
