SABIC, a leader in diversified chemicals, announced a net profit of SAR 2.18 billion ($0.58 billion) for the second quarter of 2024, a significant increase from SAR 0.25 billion ($0.07 billion) in the previous quarter. This growth reflects improved product margins and increased sales volumes, as well as effective management of regional supply chain …
drupa 2028 set for May: Nine-day event announced
The next edition of drupa, the leading global trade fair for printing technology, is scheduled for 9 to 17 May 2028 in Düsseldorf. In line with its four-year cycle, drupa 2028 will be held over nine days, reflecting the evolving needs of the printing and packaging industry. The 2024 edition of drupa highlighted …
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Borouge reports 33% increase in Q2 net profit driven by record production volumes
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 and Partners complete MBO of Nampak Liquid Cartons
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 expands market presence in the UAE with sustainable innovations
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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MEA paper industry set to exceed $20 Billion, driven by growing demand for sustainable packaging
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 partners with Print & Pack TEC to expand Middle East presence
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 expands field service operations in MEA region
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 sells stake in Middle East Glass after significant growth
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 acquires MacDermid Graphics Solutions, appoints new CEO
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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