NEWS Petra announces Europ ean market entry P
etra Engineering Industries Company, a leading designer and manufacturer of high
end commercial and industrial air conditioning equipment based in Jordan, has announced plans to expand into European markets starting with the United Kingdom in early 2018. A major supplier in Middle Eastern markets and already with extensive business in the USA and other markets in the world, the company sees expansion into European markets as the next step in its strategy.
Petra’s director of operations, Mr Omar Ali, commented that the UK market has significant potential to build upon the already existing
Petra footprint in the UK within the industrial, commercial and retail sectors: “At this time, we are finalizing our comprehensive approach to the UK market, and will be offering our engineered products to the UK market very soon. This is an exciting development for Petra and we shall be promoting the Petra brand at various events throughout 2018”, he added. In the first instance, Petra is exhibiting on Stand E40 at the
HVAC and Refrigeration Show, ExCel London, 23-25 January 2018. Visitors will be able to find out more about the company and its commitment to providing highly engineered air conditioning equipment for high end commercial and industrial projects.
Continued decline in construction output
O
NS figu res ha ve shown that construction output has continued to fall.
Construction output in October fell by 1.7% and was 0.2% lower compared with one year earlier. New orders in Q3 rose 37.4% over the quarter and 25.5% on an annual basis.
Rebecca Larkin, senior economist at the Construction Products
Association, commented: “T oday’s data confirm that previous falls in new orders over the last 12 months are beginning to translate into lower construction activity in the commercial and public non-housing sectors.
“In addition, output in private housing RM&I, the third-largest sector, has now fallen for two consecutive months and taken in conjunction with the recent decline in new car registrations, suggests consumer willingness to spend on big-ticket pu rchases is being
constrained by the fall in real wages. “With regards to new orders in Q3, the strong headline growth rate was driven by infrastructu re, reflecting the award of phase one contracts for HS2, a project worth £55.7 billion overall.
As the ONS points out, new orders growth rates this high were only previously recorded when contracts for the Channel T unnel were awarded in 1987. This aligns with the CPA’s forecast of infrastructu re as the primary driver of output growth over the next two years.
“Excluding infrastructu re,
new orders rose 4.1%, including a 35.4% increase in public housing, to the highest in three years as work accelerates under the Shared Ownership and Affordable Homes Programme. However, the data for new orders signals that the weakness in the commercial and public non- housing sectors is likely to continue.”
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