John Morgan and Marc Gerrard, RenQuip directors launching the company's groundbreaking flange spreading technology. (Image source: Renquip)

RenQuip, a manufacturer of hydraulic and mechanical equipment, is expanding globally, and is set to reinforce its position in the Middle East following a significant contract win

Founded in 2021, RenQuip outperformed its revenue projections by 20% in 2022, and tripled its revenue in 2023. As of 2024, the company has doubled its workforce to 14 dedicated team members and is on track to achieve a further 25% growth over the previous year.

A key driver of this success has been RenQuip’s robust expansion strategy, particularly its focus on the US market, where it has added 20 new distributors and resellers in 2024.

RenQuip’s strategic expansion into the Middle East has already resulted in a significant order secured from a major operator in Saudi Arabia. Looking ahead, the company is set to continue its growth trajectory in the Middle East while also expanding into new markets in Asia and Central Europe. To facilitate this continued expansion, RenQuip is launching a comprehensive new product catalogue, producing a series of application videos, and introducing an array of innovative new products designed to meet the evolving needs of its global customer base.

Marc Gerrard, managing director of RenQuip, said, “Our growth in 2024 is a testament to our strategic vision, commitment to quality, and the strength of our team. As we continue to expand globally, our focus remains on exceeding our clients’ expectations through continuous innovation and dedication to excellence in all aspects of our business.”

RenQuip plans to further strengthen its global presence and solidify its position as a leader in the hydraulic and mechanical equipment industry.

ENOC Accelerators Programme. (Image source: ENOC Group)

ENOC Group, has launched the ENOC Accelerators Programme as part of the UAE Government Accelerators initiative.

This programme is designed to collaborate with stakeholders to identify and resolve operational challenges within 100 days, making ENOC one of the first semi-government entities to adopt the Government Accelerators framework.

Inspired by the UAE Government's Accelerators Programme, the ENOC Accelerators Programme brings together the company’s top talent to work with stakeholders, tackling critical challenges and achieving strategic goals within a condensed timeframe.

The programme's ambitions go beyond immediate successes, aiming to shape the future of the industry. Four teams, consisting of 20 employees, will focus on addressing challenges across key sectors, including environment, sustainability, youth, finance, and lubricants.

Aligned with ENOC’s broader strategy, the Accelerators Programme supports the company's commitment to meeting the increasing global demand for safe, reliable, and sustainable energy.

The strategy emphasises operational efficiency, collaboration, and digital innovation, built on five core pillars: Proactive Improvement, Asset Optimisation, Customer-Centricity, Integrated Value Chain and Growth, and Diversified Energy Solutions.

These pillars work together to provide world-class, integrated, and sustainable energy solutions.

H.E. Saif Humaid Al Falasi, Group CEO at ENOC, said, “The ENOC Accelerators Programme is a significant step under the Government Accelerators umbrella. It empowers our talented employees to identify challenges within the Group’s sectors, work collaboratively to analyse them, and develop actionable plans to overcome them. Launching this programme is an integral part of our efforts to develop the UAE’s energy sector and set new standards in it.”

The agreement seeks to leverage the strengths and expertise of both parties. (Image source: Volar Air Mobility)

At the Advanced Air Mobility (AAM) event in Montreal, Volar Air Mobility and Etihad Aviation Training LLC (EAT) signed a Memorandum of Understanding (MoU) to enhance collaboration in advanced electric aircraft operations.

The agreement seeks to leverage the strengths and expertise of both parties by sharing information and launching joint initiatives in areas of mutual interest, further advancing the UAE's aviation sector.

The MoU prioritises research and development (R&D) in electric aircraft operations, sustainable innovation projects, and regulatory coordination with UAE authorities. This partnership supports the UAE’s Net Zero by 2050 strategy, promoting advanced air mobility solutions that align with the nation’s sustainability objectives.

Paolo La Cava, CEO of Etihad Aviation Training, said, “This MOU underscores our commitment to driving innovation and sustainability in the aviation industry. Our partnership with Volar Air Mobility will enable us to explore new avenues for advanced electric aircraft operations, aligning with the UAE’s vision for a sustainable future.”

Henry Hooi, Chairman of Volar Air Mobility Holding Company, commented, “We are excited to join forces with Etihad Aviation Training on this groundbreaking initiative. Together, we will not only explore new frontiers in advanced air mobility but also contribute to the UAE’s leadership in environmental sustainability and innovation.”

By localising production, Stellantis is contributing to job creation, skill development, and technology transfer in Egypt. (Image source: Stellantis)

Stellantis Middle East and Africa (MEA), has continued its regional expansion through the launch and local assembly of the Jeep Grand Cherokee L in Egypt at the Arab American Vehicles (AAV) plant, affiliated with the Arab Organisation for Industrialisation

“This launch marks a crucial step in our Dare Forward 2030 strategy,” remarked Samir Cherfan, chief operating officer of Stellantis Middle East and Africa operations. “By restarting production at the Arab American Vehicles factory, we're not just introducing a new Jeep vehicle; we're recommitting to Egypt's industrial growth and solidifying our position in the MEA region. Our goal is to achieve market leadership in Egypt and increase our regional market share to over 22% by 2030.

“The region is very dynamic, and we have ambitious plans. We are aiming to become the No. 1 regional market player with one million vehicles sold by 2030 of which 35% will be electric. We want to move to over 90% regional production autonomy meaning producing in the region for the region, which will position us by far as the most localised player in the region.”

Local manufacturing in Egypt

Stellantis has labelled the manufacturing and bringing of the Jeep Grand Cherokee L to Egyptian lines as a vote of confidence in the capabilities of the professionals in the country and the strength of local infrastructure. It is a move that aligns both with the Egyptian Government’s strategy of enhancing local manufacturing and Stellantis’ MEA Dare Forward 2030 vision, a plan to become net zero by 2038 and being ‘second to none’ in value creation for stakeholders.

“Our extended collaboration with AAV has been instrumental in Stellantis' success in Egypt,” surmised Hesham Hosni, managing director of Stellantis Egypt. “This relaunch of local production not only demonstrates our confidence in Egyptian expertise but also our commitment to delivering world-class vehicles tailored to local preferences.”