UAE PAINT SECTOR HITS THE BUFFERS AS RECESSION HALTS CONSTRUCTION BOOM
June 1st, 2009
BY PAUL COCHRANE
PAINT sales in the United Arab Emirates (UAE) are forecast to fall by 25-30% this year, a remarkable change in fortunes from the years of double-digit growth when the country's US$300 million coatings sector was one of the fastest growing in the world.
"There were big increases in 2005, 2006, and 2007, real boom stuff. They were not using paint, but guzzling paint," said Sunil Gudur, chief manager of Al Gurg Leigh Paints (Dulux) in the Gulf.
Last year was also a "fabulous year" for the sector, said Gudur, as the UAE ...
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