Market news, 23 July 2024
Armacell hosted the ribbon cutting ceremony for its new manufacturing facility in the Kingdom of Bahrain. Bahraini government representatives and Armacell executives attended the ceremonial opening in the Bahrain International Investment Park (BIIP).
H.E. Zayed R. Alzayani, Minister of Industry, Commerce and Tourism, said: “Bahrain’s government is committed to creating an environment that attracts and supports the leading companies in the world. We will continue to collaborate with leading companies to anchor high value-added manufacturing, adopt advanced manufacturing technologies and equip our people with the requisite skillsets. Our partnership with Armacell is a good example of how we are doing this.
H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, welcomed Armacell’s commitment to the region: “Armacell today joins a growing list of leading manufacturing firms that have chosen Bahrain as the base for their regional operations. Its decision is symbolic of the faith and confidence in Bahrain’s rapidly-growing manufacturing sector, one of the key drivers of the nation’s Vision 2030 economic diversification plans. We are delighted to see Armacell benefit from the tremendous business incentives and cost efficiencies of doing business here.
Patrick Mathieu, President and CEO of the Armacell Group, commented: "We are proud to announce the completion of our new green field site in the Kingdom of Bahrain. This state-of-the-art manufacturing facility strengthens our commitment to the Gulf region and will serve as our regional trading hub."
Production at the Bahraini site is launched immediately. When fully operational, 60.000 cubic metres of technical insulation foam will be produced per year in Bahrain, providing a wide range of insulation solutions for the domestic market, including high-density materials and elastomeric insulation for heating, ventilation and air-conditioning (HVAC) systems.
Operating from the Bahrain International Investment Park, Armacell expands the company’s footprint in the Gulf Region, initially creating more than 100 jobs.
