Ukrainian steel pipe and railway wheel producer Interpipe has stated that, during Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) held this week, the global Steel Alliance Against Counterfeiting (SAAC), an industry initiative of 18 global steel products manufacturers committed to combating counterfeiting, said that the growing presence of counterfeit steel products in the Middle East poses considerable safety, legal and financial risks for all stakeholders with potentially disastrous consequences for the environment and human lives in the event of accidents.
According to SAAC’s statement, while there are no quantifiable statistics on the size of the counterfeit market in the Middle East, its presence is real and represents a threat to the safety and integrity of this region’s current investments in major infrastructure projects. SAAC also stated that end-users are also affected negatively by the counterfeit products.