Remanufacturer placed fourth in the United Arab Emirates ranking in list of fastest growing companies in the Middle East.
Prolific remanufacturer German Imaging Technologies Dubai has been ranked fourth in the Arabia500+Turkey, a ranking of the fastest growing companies in the Middle East and North Africa region created by AllWorld Network.
GIT Dubai is listed at fourth position in the United Arab Emirates list, with a ’08 – ’10 standard growth rate of 100 percent and a 2010 revenue range of $1 – 5 million
Dr Sassan Dieter Khatib-Shahidi, Managing Director, GIT Dubai, commented: “12 years ago when we started off in Dubai our economic activity, which is the remanufacture and assembly of toner cartridges, was not even known in this part of the world. The Economic Department and Chamber of Commerce in Dubai had to make this as permissible for us. Consistent delivery of quality products and utter focus on customer needs has resulted in GIT Dubai being repeatedly ranked as the No. 1 Compatible Vendor in the UAE by IDC since 2007.
“Yesterday, we were finalists out of 3,800 nominated companies in two categories, Best Manufacturer and Green Business of the Year, at the SME ADCB Stars of Business Awards 2011 in Dubai, and 1,000 guests had attended the event. Today, it is announced that we are the fourth fastest growing private company over the last 3 years in the UAE and the fifteenth in the GCC. At the same time Arabia500 announced the Dubai SME 100 ranking in which we have been recognized too. We are joyous and proud of these recognitions and awards. It is proof that a socially and environmentally responsible business model in an industry like ours can be recognized on all levels and achieve the highest accolades. My thanks and gratitude go to my team at GIT Dubai and all our valued and loyal customers, business partners and supporters!”
The entries, spanning from Morocco to Pakistan, are said to have experienced a 40 percent growth, with two-thirds undergoing stronger profitability compared to 2010.
Anne Habiby, economist and co-founder of AllWorld Network, commented: “From the Arab Street to Wall Street, the need is for bold economic action and immediate job creation. Investing in the entrepreneurs of the Arabia500 is the surest bet to unleashing economic opportunities.
“We congratulate each of the Arabia500 winners and their teams on their outstanding achievements, and we know thousands will take inspiration from them.”