What is Doka's business strategy in Kuwait and what makes it a strategic market?
GERALD HOERMANN Doka Kuwait was established in 1977, making it one of the company's first branches outside of Europe and a testament to the perceived potential of the Kuwaiti market. Over 40 years later, Kuwait continues to be a stable and sustainable market with excellent growth prospects in the industrial and oil and gas sectors, thanks to the government's commitment to enforcing quality and safety standards. Our strategy is to continue to provide our usual high levels of service in conjunction with our latest innovative products and systems to support Kuwait's ongoing infrastructure development.
In light of PERI's 50th anniversary, what is your new international strategy and vision?
JOSEF PALME In 2018, our management introduced a new strategy that extends to 2025. The aim is to grow our production and develop new factories that will work on specific products. In addition, we have started to implement new products for regions where the demand for sophisticated and high-end products is low. We are adapting our product portfolio to better address the needs of these mid-market regions. Kuwait has demand for both high-end and mid-market products, and we have a 25% domestic market share. Our main focus is to supply formwork material, plywood, and components for projects safely and efficiently. Our clients can always rely on us, which is how we have established long-lasting relationships.
What is being done to increase the safety and efficiency of your products and solutions?
GH We have extended our service offering to play a more intrinsic role throughout the project lifecycle. We are renowned for consistently providing quality service. Due to our detailed planning and execution, clients are able to maximize their ROI. This means we have a high percentage of repeat clients, which essential to succeed in Kuwait's construction market. Having been in the country for 42 years, our experience means we are both familiar with local protocols and most importantly, trusted by the wider industry. In our extended service offering, we provide guidance regarding how to use our materials to their full potential to maximize ROI.
JP All our products meet European safety standards. We have also developed products that exclusively address safety considerations. This includes safety anchors for installing climbing formwork or for single-sided wall formwork and other products for residential programs like safety barriers. We are dedicated to protecting peoples' lives on the job site. We want to open clients' eyes to the absolute necessity of safety systems and procedures, and we support clients as they pursue these objectives. Equally important, we are keen to support the environment through environmentally friendly sourcing and production. We use production waste to heat our premises and the surrounding neighborhood. We reuse the byproducts and the waste materials we create to reduce our environmental footprint as much as possible. In fact, our directors have a strong environmental focus, which is not typical in today's environment.
How does Doka differentiate itself from its European competitors?
GH We recently introduced a formwork pre-assembly service that requires less manpower, saves time, and ensures the quality of the material and execution of concrete works. This new service has further strengthened our position in the market. Doka's most important differentiator is its commitment to innovation. A great example is Concremote, a remote sensor device that monitors the real-time development of concrete strength. The sensors are placed in the concrete with local SIM cards that send the live data to our servers in Europe. Not only does it save valuable time, it also ensures the quality and integrity of the concrete. Concremote is just one of the innovative products that will change the construction game, and we are excited to be able to offer it to the Kuwaiti market.
What role does technological innovation play in your construction?
JP Technological innovation is a vital part of our 2025 strategy. PERI spends approximately 5-10% of its revenues on R&D. We are looking at technological standards in different global markets as we want to ensure we have the right product for every region. We have a trade show coming up in Germany that will serve as a forum to launch our latest innovations. We use customer feedback when working on new innovations. Three years ago, we introduced a light and strong polyethylene formwork after hearing feedback from our customers and have since applied this system worldwide. In 2019, we have new products coming to the market, with a particular focus on new innovations in the mid-market range.