French bottle maker plans $93m RAK investment
Ras Al Khaimah, August 7, 2012
Saverglass, a global specialist in designing, manufacturing and decorating luxury glass bottles with headquarters in France, has announced plans to invest around 75 million euros ($93 million) in its plant at Ras Al Khaimah.
The multi-million euro investment covers 100,000 sq m and will employ 180 people by January 2013, said a statement from Ras Al Khaimah Investment Authority (Rakia), the government entity responsible for attracting investments to the free zone and non-free zone facilities of its industrial parks.
The French company, with subsidiaries around the world, has found a new home in the emirate, which entails building its first plant in the Middle East, it added.
Over 1,300 will be involved in the project that will see the formation of a plant that will initially produce coloured bottles. Many French experts will be involved throughout the entirety of the project, to lend their training and knowhow to RAK employees.
Karam Al Sadeq, the general counsel/Deputy CEO of Rakia said the strategic move is the product of a well-studied model that highlights the advantages of setting up operation within Ras Al Khaimah.
'The success of similar enterprises in the past by like-minded establishments forecasts only success for Saverglass; and we are happy to have them become part of our growing portfolio of foreign investors,' he stated.
Ludovic de Gromard, the deputy project manager of Saverglass, said the company first became acquainted with Rakia through another French group ARC International – whose Middle East operations now include a workforce of 1,800.
'Their positive experience in developing operations with the government authority spawned brand ambassadors for the benefits of working with Rakia,' he stated.
'Excellent infrastructure and strong government support towards the private sector, have allowed the emirate to emerge as a destination of choice for investors and leisure travellers alike,' he added.
Created in 1897 in the north of France, Saverglass has experienced a fast growth in the past years and now employs 2,500 persons in its three manufacturing plants in France, that of RAK and its 14 sales’ subsidiaries around the world, generating a turnover of € 335 M. in 2011.-TradeArabia News Service