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Officials at the signing ceremony

Armacell to set up rubber insulation plant in Bahrain

MANAMA, January 12, 2015

Armacell, a producer of flexible insulation foams for the equipment-insulation market, has planned to build a new manufacturing facility in Bahrain.

To be located at the Bahrain International Investment Park in Hidd, the plant will produce elastomeric rubber insulation for the GCC heating, ventilating and air conditioning market estimated at $3 billion, said a report in the Gulf Daily News (GDN), our sister publication.

The facility is expected to create more than 100 jobs.

The announcement follows a visit to the kingdom by an official German business delegation led by German state North-Rhine Westphalia's Deputy Vice-Minister of Economic Affairs Dr Herbert Jakoby.

Armacell International Holding managing director Dr Karl Paetz Lauter was part of the delegation.

With its regional headquarters for Europe, the Middle East and Africa in North Rhine-Westphalia, Armacell employs more than 2,200 people around the world and exports products to Europe, the Middle East, the Americas, Asia and India.

In a statement, the Economic Development Board (EDB) said the investment is a direct result of efforts of its Berlin office in attracting investment into Bahrain.

EDB officials have been showcasing economic strengths of Bahrain, and business opportunities it offers to investors who can benefit from its open market, with a competitive tax regime, world-class regulation and one of the most educated workforces in the GCC.

Transportation and Telecommunications Minister and Economic Development Board acting chief executive Kamal Ahmed said Armacell joins a number of prominent German and other international businesses that are using Bahrain as a manufacturing hub to access the GCC region, one of the world's great growth centres.

"In Bahrain, German businesses will find a sophisticated regulatory environment, excellent transport connections, low costs, competitive taxes and a highly educated workforce," Ahmed said.

According to Dr Lauter the fast-growing Gulf market presents an excellent opportunity for manufacturing firms.

"We think that not only does Bahrain provide the most efficient access to that growing market, but also provides the most open and favourable business environments in which to operate," he added.

The company joins a number of other German businesses that have already established operations in Bahrain as a means of accessing the wider GCC market.

Leading German companies with offices or facilities in Bahrain include: DHL, BASF, SMS Meer, RMA and Siemens PG.

Bahrain's open economy, favourable business conditions and strong economic fundamentals have been endorsed by the Heritage Foundation's 2014 Index of Economic Freedom, which saw the kingdom ranked 13th in the world and first in the Middle East and North Africa. - TradeArabia News Service




Tags: Bahrain | manufacturing | Insulation | facility | Armacell |

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