Manama, 17 May 2017: Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, has today broken ground on the construction of its own manufacturing facility in the Bahrain International Investment Park.
Planned to start production in 2018, the Armacell Group, through Armacell Middle East Company S.P.C., will manufacture a comprehensive range of products for the GCC, including high-density materials and elastomeric insulation for heating, ventilation and air-conditioning (HVAC) systems. Growth within the construction sector is resulting in high demand for HVAC products in the region and the facility is expected to create approx. 100 jobs within the first three years.
The groundbreaking was attended by senior representatives from Armacell in the presence of H.E. Zayed R. Al Zayani, Minister of Industry, Commerce and Tourism and H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB).
H.E. Mr. Zayed R. Al Zayani said: “Bahrain’s government has built a robust manufacturing and logistics sector with world class infrastructure and supportive reforms and policies in place. We are seeing more companies taking advantage of this business-friendly environment and Armacell’s investment is a reflection of Bahrain’s strengths as regional hub for manufacturing and logistics. We look forward to supporting Armacell here in Bahrain and in the wider GCC”.
The Bahrain EDB supported Armacell during the set up process in Bahrain and H.E. Khalid Al Rumaihi, commented at the event: “Armacell is the latest in a long line of international manufacturing companies to base their regional operations in Bahrain. Bahrain remains the destination of choice for manufacturers who want to take advantage of the competitive benefits that our operating environment offers such as the availability of a highly skilled local work force, low costs and our strategic location at the heart of the GCC.
“In turn, investment from companies such as Armacell creates high quality jobs in the local market and plays an important role in helping us at the EDB achieve our objective of attracting investments that support national economic diversification efforts.”
Patrick Mathieu, President & CEO of Armacell International S.A., commented: “The greenfield construction of our own production site in Bahrain reinforces our commitment to the Gulf Region, strengthening our presence in this high-growth market where we have been operating since 2008. We are excited to begin our operations early next year, benefiting from Bahrain’s modern business environment, central location and world-class infrastructure.”
Guillerme Huguen, Vice President EMEA, added: “The construction of our own production site in Bahrain is the logical next step to serve the continuously growing domestic demand in the Gulf Region. The EDB has been supporting us from the start in our endeavour and we are very pleased with the substantial progress we have made since the beginning of this year.”
Establishing a manufacturing facility in Bahrain is part of Armacell’s goal to grow the group’s manufacturing footprint in the Gulf Region. Armacell has been active in the Gulf Region for a decade and is led by Neville D’Souza, General Manager of Armacell Middle East Company S.P.C.
Bahrain’s manufacturing sector is one of the key sectors in the Kingdom’s economy. It accounts for around 15% of real GDP and has grown by 20% over the past 5 years and is the second largest contributor to Bahrain’s non-oil sector.
Notes to editors:
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
Key areas of focus include tourism, manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com