Gregor Müenstermann appointed as new CEO for Emirates Steel

Muenstermann, 50, has more than 20 years of experience in Senior Management in the steel production industry. He was recently appointed the CEO and Chairman of the Board of ArcelorMittal Poland SA and Czech Steelworks Mittal Steel Ostrava.

On the appointment of Muenstermann as the new CEO, H. E. Hussain Al Nowais, Chairman of Emirates Steel, said: "Gregor Müenstermann is our ideal choice to lead Emirates Steel and our world-scale expansion plan. His appointment reinforces Emirates Steel's strategy to recruit industry leaders with the relevant expertise and know- how, helping us to position the company as one of the most significant contributors to Abu Dhabi's economic diversification efforts."

He further added: "We are confident that with his 22 years of management experience and the best practices he brings from ArcelorMittal, the world's largest steel company, Müenstermann will take the company to even higher levels of excellence and performance, ultimately positioning us as a major player among the leading international steel producers."

Commenting on his appointment as CEO, Gregor Müenstermann said: "I am honored to be entrusted with this key position and to have the opportunity to lead such a highly qualified team. Emirates Steel has already made its mark on the competitive steel industry in just a few short years. Together, we will be focused on achieving even greater success in our impressive expansion plans to support the Emirate's economic diversification initiative."

Al Nowais mentioned that the first two phases of expansion of the company have given tremendous technical and management job opportunities to the UAE Nationals, with the creation of a large number of high profile jobs for them. Emirates Steel is expected to employee 25% of UAE nationals by 2009 end, from the present 20%. And 60% of these are going to be the management posts.

On the completion of the first phase of the expansion, Emirates Steel increased its production capacity of steel from 650,000 tons in 2006 to 2 million tons.

Phase 2 of the Dhs9bn expansion is expected to be completed in the last quarter of 2011, increasing its production capacity to 3 million tons per annum. The total area would also increase to 2 square kilometers and heavy and jumbo steel sections shall be added.

By 2015, the annual steel production is expected to increase to 6.5 million tons, and the company would become the biggest iron and steel producer in the region.