I am glad to take this opportunity to reflect on the great team effort and success across Group Industrial for the year 2024.
The Power Division has continued to set new records in sales and after sales, underlining its leadership in the industries it serves. It is about to launch its third batch of its Mechatronics program, to train and absorb Emirati engineers into its teams. Our first batch is nearing graduation from the two-year program. SHAMS+, the Sustainability arm is being re-focussed, to allow a greater participation in the new parameters being set by the Government of the United Arab Emirates.
The year was a landmark one for our Tyres, Batteries and Accessories Division. We celebrated the 50 year anniversary of the Al Masaood-Bridgestone partnership in events in Japan and Abu Dhabi. TBA reinforced its Retail operations with new partnerships, to add more value to its client, and secured several awards from Bridgestone and TOTAL. In a challenging environment, TBA outperformed a number of indictors.
Another division which has exceeded expectations was our Commercial Vehicles and Equipment. While developing on the success of UD and Renault Trucks in Abu Dhabi, the year saw CVE launch its Trucks and Buses partnership with Dongfeng, and concluding a new agreement with TCM forklifts, both for national representation. Additionally, we saw a strategic expansion in service contracts, with the division demonstrating its leading position in UD Truck’s GEMBA challenge, reaching the finals in Japan and winning the highest accolade, the President's Award, among others. Its Manufacturing arm secured valuable business for both local and export markets.
Similarly, our Projects Engineering and Services Division sought and achieved noticeable growth. For the 25th year in a row, it led a highly successful participation for the Group in ADIPEC. Adding value, developing new Principals, and driving diversification in the sectors it serves, PESD ends the year with a number of long-term contracts for supplies and services.
ARB Emirates set new records this year with an exceptional performance at ADIHEX. Its legendary closeness to its clients was emphasized with the successful launch of Road Shows across the UAE.
Al Masaood Equipment Rental continued its steady expansion across the UAE. The growth of our assets and client base has positioned us as a leading provider of equipment and services for highly demanding events organizations.
Al Masaood Motor Tech Services made an exciting debut, with the establishment of its facilities. To cap the year, it has secured strategic business from discerning clients, a start which augers well for the future.
The underlying theme above is the leadership of those businesses and the dedication of our teams, for which I am thankful. The growth and development are not haphazard but the result of strategies that are put in place and carefully executed, and I am proud of this achievement by my colleagues in Group Industrial. And I wish to thank our colleagues in Group Support for their contribution to our success.
And, of course, on behalf of all at Group Industrial, I thank our Directors for their trust and backing.
Looking ahead to 2025, we remain focused on our strategic goals of diversification and the expansion of our products and services. We are excited about the ongoing preparations for the implementation of SAP and the value it will add to our business.
As we look forward to the new year, I wish you and your families a prosperous, healthy, and successful 2025.