Saad Hussain: A man of steel

Dubai - A dedicated team and a business model that is built on trust, teamwork and hard work is what Saad Hussain, chief executive officer at Audax Steel, credits for the company's success over the years.
"The journey has gone hand-in-hand with our philosophy of providing our customers a quality product with consistent dedicated customer service," says Hussain who started the company in 2007, and has positioned it today as one of the Middle East's reliable source for finished steel products. It wasn't an easy journey as being one of the youngest CEOs to establish a setup in the imperative Jebel Ali Free Zone, while building everything from ground up.
But Hussain refers to how experience and a learning process taught him through, with different situations where finally some taste of success was drawn.
"The way business conducted here is definitely different than in North America, where I grew up, and I feel if you don't quickly adapt, you can incur setbacks. Dubai offers a world of opportunity, and one must take that. Complemented with the right team and dedication, a brand can attain great value," he adds.
Speaking about the importance of having great role models when learning the intricacies of the steel industry, Hussain credits his father for guiding him. "People have role models in the form of business leaders from different walks of life. For me, my father shall always be my mentor and the most hard-working person I've ever come across. For as long as I can remember, he has had only two passions - one being his work and the other being his family. His honesty and principles have helped me carry forward the dedication to work that I learned from him."
Asked if the introduction of value-added tax (VAT) has affected the steel industry, Hussain revealed that the manufacturers may find it difficult to pass additional costs down the supply chain in the face of heavy competition from cheap imports. Furthermore, the introduction of VAT would see a rise in end-user product prices, as the increased production costs would be transferred down the supply chain.
However, after the couple of years into introduction, clients have been accustomed to the idea. "The UAE is leading the way in the region in developing a blueprint for business development and the ease of business for investors. Free zone companies have the exemption in regards to VAT, which is another attraction for companies looking to setup in the UAE," he stated.
 
Covid-19 and its effect on the steel industry
Global crude steel production decreased by 1.4 per cent in the first three months of 2020 compared to the same period in the previous year. Although steel was declared an essential industry in several countries, demand for steel production had fallen sharply during the pandemic. However, the re-opening factories and restarting production in many countries has led to an increased demand for steel. Hence, a move towards recovery can be seen over the past two months.
Audax Steel is an independent supplier and stockist of a variety of steel items including structural steel and mechanical fasteners. The company produces a wide range of value-added steel products for an array of Industries which include; automotive, structural steel building, civil construction, industrial development and a supply to oil and gas-related industries.