إحياء ليوم الأسير فعاليات تنظم داخل اراضي الـ48 pnn.ps - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pnn.ps Daily Mail and Mail on Sunday newspapers.
Dubai: Selling of loss-making entities and a return to focus on its core MEP-related project work is helping with Drake & Scull’s revival, according to a top official. The company, in the midst of a major financial restructuring, is also pursuing new work – in the UAE and outside.
“We are making a continuous effort to win more projects were possible, whether in UAE or overseas, in addition to the on-going operations in Algeria, Tunisia, Palestine, India, Kuwait, Iraq, and Germany,” said Munir Mansour, CEO.
“The organizational restructuring is progressing well especially after the sale of a number of the loss-making civil-related entities.” Its current order backlog is valued at Dh398 million.
Drake & Scull completes first phase of restructuring plan
DUBAI, December 24, 2020 Drake & Scull International, a regional leader in engineering and construction services, said it has, in close co-ordination with its subsidiaries, completed the first phase of the restructuring plan related to the creditors claims process. The embattled Dubai contractor had in September announced a top-level executive shake-up amid mounting losses and the looming debt restructuring plan naming regional experts to the top posts. Munir Mansour, a highly seasoned leader with more than four decades of experience in the industrial and contracting industry in the UAE, was named the CEO, while Peter Lalor, an industry veteran with over 14 years of experience in corporate strategy, finance, legal and commercial management in Middle East, became the chief financial officer.
Dubai s Drake & Scull says it s business as usual despite restructuring arabianbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabianbusiness.com Daily Mail and Mail on Sunday newspapers.