Move in line with long-term strategic plan

UAE-based Maritime Industrial Services Co. Ltd. Inc. (OSE: MIS) announced today some high-level organisational changes as part of its newly-enhanced MIS Management System which was fast-tracked for introduction in 2009. The move will strengthen the company’s position in delivering, profitably, its January 2009 backlog of US$ 700mn and streamline the organisation’s structure to focus on the current workload.

In line with these changes, MIS has implemented initiatives to enhance its current operational performance, to drive accountability and to strengthen the ‘value streams’ concept. These changes will reduce administrative overheads and cut personnel costs, specifically in view of the current global and regional economic situation.

MIS’ Group Chief Executive Officer, Kevin Hudson, who joined the company in October 2008, confirmed that these measures are part of the company’s five-year strategy (developed in 2008), to see the company grow profitably. “The current situation is challenging for everyone and MIS is no different to other companies in this sector,” Hudson said. “However, we maintain the view that this is as good a time as any to introduce the changes that will see MIS achieving its long-term business excellence and its goal of becoming a US$ 1bn company by 2013.”