Ras Al Khaimah Investment Authority (Rakia) has entered into a partnership with Becker Industrie to establish a new manufacturing facility for industrial coatings and paints.
The facility will come up at the Ras Al Khaimah Industrial Zone.
Becker Industrie is Europe's leading supplier of coil coatings and the second largest manufacturer in the world. Rakia is the government body responsible for the socioeconomic growth of Ras Al Khaimah emirate.
The new coatings factory will cater to the coil, metal and plastic coatings segments, providing an extensive range of coil coatings and special coatings to strategic markets such as consumer electronics firms, mobile phone manufacturers, agricultural and construction equipment (ACE), transportation and automotive, among others.
"Rakia is pleased to form this partnership with Becker Industrie as this will help solidify Ras Al Khaimah's reputation as a highly conducive investment destination for leading global corporations. In addition, this will open new business opportunities for Ras Al Khaimah, as Becker Industrie's coatings factory will naturally attract new market players and customers into the emirate because of its status as one of the world's two largest manufacturers of coil coatings," said Serge H Guillaume, executive director of Rakia.
"Positioning Becker Industrie's newest venture within Ras Al Khaimah is likewise an excellent strategic decision that will definitely deliver long-term value to its ultimate goal of strengthening its presence in the Middle East market; Ras Al Khaimah offers a whole range of advantages, particularly in terms of cost-effectiveness, location, flexibility, investor-friendly economic policies and world-class infrastructure," added Guillaume.
Becker Industrie belongs to the Becker Group owned by AB Wilh. Becker, a Swedish company, with over 140 years experience in the coatings business. The company is now the leading supplier to the European market and is considered the second largest manufacturer of coil coatings in the world with a global market share of 15 per cent. –TradeArabia News Service