DK Rock Italy Wins 9 Billion KRW Valve Order from UAE State Oil Company Aldabiya Construction

[Asia Economy Reporter Jang Hyowon] DK Lock announced on the 8th that its subsidiary in Italy, ‘SITINDUSTRIE VALVOMETAL DK - VALVE DIVISION s.r.l. Italy’ (hereinafter DK Lock Italy), has signed a large-scale valve supply contract worth 9 billion KRW with a local EPC company in the United Arab Emirates (UAE).

The contract size corresponds to 10.5% of last year's consolidated sales of 85.5 billion KRW, and the company explained that the final customer is ADNOC, the UAE state-owned oil company, and the valves will be used in the Al Dabiyah oilfield project.

The valves to be supplied are products with high technical completeness based on API (American Petroleum Institute) 6A and 6D certifications, which are essential in the Oil & Gas business sector. The company holds API 6A, 6D, as well as API 6DSS, which can be applied to deep-sea (Sub Sea) environments.

Recently, with the COVID-19 endemic phase and the full-scale resumption of economic activities, international oil and natural gas prices have soared since the second half of last year. This achievement is particularly meaningful as it was obtained amid expectations of a bright outlook for front-end industries such as oil & gas and petrochemicals, which are the company’s core businesses.

Meanwhile, ‘DK Lock Italy’ was established locally in March last year by DK Lock to diversify overseas markets for its large valve business. By acquiring VALVOMETAL, a large valve company with 67 years of experience, the company aggressively targeted overseas markets and achieved a large-scale order within just one year of establishment.

This year, the company plans to focus on overseas marketing through aggressive expansion of overseas markets, active discovery of new customers, and strengthening product capabilities. Key business priorities include ▲expanding and diversifying sales channels for core businesses ▲price increases and exchange rate management ▲strengthening competitiveness in the semiconductor business ▲accelerating structural growth in the hydrogen and aerospace businesses.

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