Last September, TECON participated in this SIE2023 Saudi Arabia Infrastructure Exhibition, on the one hand, it is to see the positive open policy of Saudi Arabia government. Meanwhile, we have received many online inquires from Saudi Arabia in previous. We learned that the Saudi Arabia Ministry of Housing has been continuously providing standard villas to the local nationals, and received a large number of inquiries about system formwork. On the other hand, our customer and friends in other from other countries in the Middle East such as the United Arab Emirates, Qatar, Kuwait, have introduced the continuous demand for the Saudi market. Also, the vice president for construction at dmg event stated that the expo serves as a hub where both local and international exhibitors unite to present cutting-edge infrastructure products, services and expertise. Thus, we feel like that there is a huge opportunity to promote our products to the market.
This SIE2023 was a three-day event, from September 11th to September 13th. We have contacted more than 100 customers and more than 90% of them were from the industry. It is beyond our expectations. Some of them were local famous contractors such as: China Construction Group, Aljdwa, owners such as National Water Company, Ministry of transport and logistic services, and so on. transportation and logistic services.
In SIE, We exhibited the following products: TECON Plastic Formwork TP60, TECON HETO Frame Wall Formwork and Shoring Tower TST60. Throughout the exhibition, customers had show great interest towards our products we exhibition as well as other system formwork, such as H20 timber beam formwork, integral pouring formwork-Tunnel Formwork, and Self Climbing Formwork system,etc. During the communication with the client, we learned that under the impetus of the Saudi government's "Vision 2030" and the housing program in line with the Saudi National Housing Plan, various related companies are considering upgrading the process of all aspects of the project. At the same time, our team made detailed answers to the various product technical questions raised by the customers and the advantages of the characteristics of various locally appropriate formwork systems are thoroughly described.
After the exhibition, our team has visited the key customer's company and their project sites. We deeply learned about the situation of the customer's sites, the specific characteristics and demand, and the business cooperation mode. Then, we have recommended corresponding solutions and determined the both side's cooperation intention.
Meanwhile, customers will pay more attention to whether we have branches or partners in Saudi Arabia, local contractors are very supportive of local companies, and have high requirements for the formwork company's product delivery time, cost-effective and after-sales service, and local large-scale projects for the formwork of a large demand for the supplier needs to have the corresponding production and inventory capacity to do support.
Overall, it's safe to say we gained a lot from the show. Although we didn't get orders directly, our brand officially entered this market and let more people know about TECON. We also learned that our products can be adapted to the local market, which laid a good foundation for our continuous development later.