Increased import tariffs for conveyors

According to the Stock Exchange 24, the Commodity Commission of the United Arab Emirates (WTO) has agreed to increase the import tariff by 10 percent from 20 percent to 30 percent. The bundle market is expected to be attractive to domestic producers.

In addition, with regard to the prohibition of external purchases of external conveyors, it is said that this is important in support of domestic production approved by the Cabinet of Ministers, in which case, in the implementation of projects, state companies are required to provide conveyor belt of products Internal will be.

The conveyor industry has had significant successes, including standardization of the quality and production of ultra-heavy conveyors over the past five years. The Sahand Rubber Company represents the industry in the stock market.

Fundamentalist:

It should be noted that Sahand is the largest conveyor belt manufacturer in the country, which failed to provide a decent budget due to the sharp drop in sales in the 6-month performance this year.

The company has reduced sales by 40 percent in its six-month performance, with increased import tariffs helping to boost sales and improve profit margins.