The UAE is among fastest growing markets in the region spurring investments and trade opportunties and Ferroli wants to consolidate its operations here, said Marco Ippoliti, head of exports at Ferroli Group, on Wednesday, while announcing its tie up with UAE based Fast Solutions.

Ferroli Group, a multinational giant, manufactures domestic and industrial heating, air-conditioning and water heating products. The company's head office is in San Bonifacio, Verona, where it was founded by Dante Ferroli in 1955, Ferroli now operates in 14 countries across Europe and Asia.

"The group globally expects to post 10 per cent growth over last year and has recorded 160 per cent growth in last eight months in the Middle East. The prime markets are UAE, Saudi Arabia, Bahrain, Qatar, Lebanon and Iran" said Ippoliti.

Speaking about its foray into the UAE and partnership with Fast Solutions, Ippoliti, said: "We are happy to associate with Fast Solutions, a leader in renewable energy and water technology in the UAE. The Middle East is a huge market for us with the UAE being a very important country to have our presence in, with their exemplary Green Buildings Initiative. We see a great opportunity here, as renewable energy has been our focus over the years and we constantly reach out with these products to a larger consumer segment across the globe. Our water heaters have a host of unique and eco-friendly customer benefits, which are being introduced in the UAE market for the first time." Fast Solutions has unveiled Italian global brand Ferroli's premium range of solar panels and green energy solutions in the UAE. Ferroli will redefine standards in the domestic water heater industry of the region with the launch of its product range that is equipped with the highest energy efficiency and eco-friendly features. The company - started in 2008 - has registered a revenue of Dh500 million in the last fiscal year and is expecting a 12 per cent growth rate by the end of this year. "We comply with global green regulations, wherein 20 to 25 per cent of our processes are channeled in line with this initiative, and we intend to cross more than 50 per cent towards this in the future. We are among the top five green energy solutions provider in the UAE and we are working towards emerging as the market leaders in our specific industry segment," said Al Ameen, chairman of Fast Solutions.

The partnership between Fast Solutions and Ferroli will provide a smart combination of local value and superior quality green solutions in the UAE. Fast Solutions plans to expand the market of Ferroli's specialised solutions in a phased manner, beginning with the UAE and covering the distribution across other countries including Oman, Saudi Arabia and the untapped Indian market.

Unnikrishnan Chandramohanan, director of Fast Solutions, said: "The market in the UAE is highly dynamic and we have to keep up with the demands here. Fast Solutions is known for its commitment to customers in the UAE and the GCC region. Adding Ferroli to our portfolio is a strategic move in our bid to bring the best eco-friendly solutions to the country. This partnership will benefit the green technology seekers at large, rolling out a wide range of products for the industry."

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Sandhya D'Mello Journalist. Period. My interests are Economics, Finance and Information Technology. Prior to joining Khaleej Times, I have worked with some leading publications in India, including the Economic Times.