For the third year in a row the Ministry of Siderurgy and Mechanical Industry's exports values imposed a historic record. 2006 registered the highest value ever reached, with 117 million CUC [Cuban Convertible Pesos, 1 CUC = 1.08 USD], a figure representing a growth of 26% regarding the previous period.

The sustenance of commercial balance and the increasing presence of Cuba in the Latin American region have constituted the impellors for these results and led to the fact that exports represented 20% of total sales in hard currency for all SIME organizations.

Among the market factors that led to the uprising of raw materials' price were the exports of ACINOX and Raw Materials Recovery industrial Groups. Systematic work of the other Groups and independent enterprises was also decisive in reaching these goals.

The main exporting products in the period were: carbon steel, non-ferrous scrap, hospital furniture and equipment, copper wirerod, electric cables, equipment and parts for sugar industry, steel by-products and other products of mechanics sector. Service exports has also grown, mainly linked to integral exporting projects.

Regarding the exports' geographic distribution, even though the trend to a certain diversification remains, having more than 30 countries as destiny, the main markets were located in the Caribbean area and Europe.

The unfolding of new and diverse working and control methods - undoubtedly the main earnings source for these enterprises - allowed the achievement of yield levels above 25% and an index over 90% in collection management, both efficiency indicators that should be increased as products with more added value diversify in the next future.

For current year the figure planned to reach is more than 120 million CUC in exports, which brings superior involvement in productive sector and the usage of a higher number of technical - organizative reserves in each one of SIME's organizations.

Focusing the job through processes will allow a better performance in the most priority subjects, and, above all, a better use of material and financial resources in the enterprises as a complementary way to increase the earnings in hard currency.

The progressive incorporation of SIME products in the Bolivarian Alternative for Americas' integrator actions is a sample of the acknowledgment and confidence put in this effort. Examples are the Engineering and Services projects being developed in the health sector by SIME's General Machinery Group in Venezuela.

No doubt, the development of the tasks related to exports in 2007 mean a serious challenge that SIME's workers assume with responsibility, guaranteeing a systematic rigorous work, without going-backwards in levels achieved, always focused to the exporting development of products with added value.

Lic. Elgin Fontaine

SIME Business and Exports' Manager

If you'd need some more information, don't hesitate to contact us:

cubaindustria@disaic.cu

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