Borouge Plc announced a 33% year-on-year increase in net profit for the second quarter of 2024, reaching $308 million, supported by strong sales and cost efficiencies. Revenue for the quarter totaled $1.5 billion, up 6% compared to the previous year, exceeding analysts’ expectations. The company achieved an industry-leading EBITDA margin of 41%, reflecting …
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RMB Corvest, in partnership with Dlondlobala Capital, has completed a management buyout (MBO) of Nampak Liquid Cartons, a division of Nampak Products Ltd, along with its operations in Zambia and Malawi. The acquisition will see the formation of the Diversified Liquid Packaging Group (DLP Group), which will retain its current operations and workforce. …
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Holoprint Security Solutions, part of the Holostik Group and established in 2015, has quickly emerged as a leader in the holographic products sector, particularly within the UAE. With its manufacturing plant in Dubai, Holoprint offers customized holographic security solutions to a diverse client base in over 40 countries. The company blends Indian values with …
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The Middle East and Africa (MEA) paper and pulp industry is expected to surpass USD 20 billion within the next six to seven years, driven by growing demand for packaging solutions. GCC countries, particularly Saudi Arabia and the UAE, are leading this rise, with paper packaging playing a key role in the region’s growth, …
Fosber S.p.A. has announced the appointment of a new agent for key markets in the Middle East, including the United Arab Emirates, Saudi Arabia, Qatar, Oman, and Kuwait. The company has partnered with Print & Pack TEC, a provider of solutions and services for the paper converting and corrugated industries in the region. …
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Reifenhäuser Group, a leading provider of plastics extrusion technology, is significantly expanding its field service operations in the Middle East and Africa (MEA) region. This move follows the establishment of a sales office in the United Arab Emirates five years ago and aims to enhance local customer support. The company is opening a …
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Gulf Capital has divested its strategic stake in Middle East Glass S.A.E. (MEG) to MENA Glass Holdings Limited. This move comes following a notable expansion in MEG’s operations and financial performance during Gulf Capital’s holding period. MEG, now the largest glass packaging manufacturer in the Middle East and the second largest in Africa, …
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XSYS has announced the signing of an agreement to acquire the MacDermid Graphics Solutions business and the appointment of a new CEO. The transaction involves purchasing certain shares and assets from subsidiaries of Element Solutions Inc. (NYSE: ESI), including MacDermid Graphics Solutions, for an enterprise value of approximately $325 million. The deal has received …
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Namibia Breweries Limited (NBL) has inaugurated a new wine packaging line, marking a notable advancement in its commitment to innovation and local production. The N$337 million facility was officially launched by President Dr. Nangolo Mbumba at NBL’s headquarters in Windhoek on August 22, 2024. The ceremony was attended by Honourable Lucia Lipumbu, Minister of …
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Badael, a company under Saudi Arabia’s Public Investment Fund (PIF), has opened a new manufacturing facility at the Modon—Saudi Authority for Industrial Cities and Technology Zones—in Asfan, Jeddah. The facility features a nicotine powder mixing unit, a research and development lab, a quality control lab, and a second high-speed production line aimed at increasing …
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