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Manufacturing news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

Earlier this year Agthia raised its stake in Egyptian snack group Auf

Agthia enters Saudi protein market with $25m facility

The UAE’s food and beverages group Agthia is expanding its presence in Saudi Arabia, the largest economy in the GCC. The Abu Dhabi-listed company, which is majority owned by the Abu Dhabi government through the state investor ADQ, has opened a new AED90 million ($24.5 million) protein manufacturing facility in Jeddah to support growing demands […]

Almarai expects top-line growth to continue this year amid stable macroeconomic growth and improved business performance

Fall in Almarai’s Q2 revenue hits bottom line

Revenues for Saudi Arabia’s Almarai, the Middle East’s largest dairy farm, fell 6 percent year on year in the second quarter of 2024, driven by seasonal changes in consumption patterns. The top line fell to SAR5.2 billion ($1.4 billion) during the April to June period, compared to SAR5.46 billion a year earlier. The drop in […]

The Byd booth at the Auto Shanghai show in April 2023. The new Byd factory in Turkey will boost its access to the EU

Chinese EV maker Byd to open $1bn plant in Turkey

Chinese electric vehicle (EV) manufacturer Byd will construct a $1 billion plant in Turkey, according to a news report. The agreement was signed between the Chinese company and Turkey’s industry and technology ministry on Monday in the presence of Turkey’s president Tayyip Erdogan. Bloomberg reported citing officials that the announcement planned on Monday. The electric […]

Workers at a textile factory in Bilbeis, Egypt. S&P Global says businesses may soon be able to expand their output

Egyptian business confidence improves but pessimism remains

Egyptian businesses reported significant new sales for the first time since 2021 in June but are still more pessimistic than optimistic, according to the latest purchasing managers index (PMI) report. The survey released by S&P Global reported a headline PMI of 49.9, the highest in almost three years and just shy of the 50.0 mark […]

Turkey manufacturing textile factory

Turkish manufacturers struggle to regain momentum

Turkey’s powerful manufacturing sector is still pessimistic about the country’s short-term economic prospects, with new orders slowing further and reduced employment levels, a closely watched survey of confidence has revealed.  There were, however, some hopes that a softening of inflation could herald better sales later in the year, the survey found.  The Istanbul Chamber of […]

A construction site in Dubai. Companies are increasing prices due to rises in wages and the cost of material

UAE businesses increase prices to protect margins

Companies in the UAE were forced to hike prices for a second month in succession in June, according to the latest business sentiment survey from ratings agency S&P Global. S&P attributed the sharp rise in input prices to material costs, shipping fees and overheads. Wages also grew marginally throughout the month, leading to the fastest […]

Tesla introduced a Model Y variant in Turkey with a single motor and power output under 160KW

Tesla outpaces Togg with Turkey-specific model

Tesla sales in Turkey surpassed those of the local brand Togg in June, following the introduction of a model tailored for the Turkish market. The US electric vehicle (EV) maker sold 2,670 units of the Model Y RWD sport-utility vehicle (SUV), designed to avoid high taxes on vehicles exceeding 160 kilowatts of power, the Daily […]

UAE saudi microchip computer chip semiconductor

Water shortage and talent hole hinder Gulf chips ambition

Plans by the UAE and Saudi Arabia to become centres of computer chip manufacturing are threatened by everything from shortages of engineering talent to a lack of water, experts have warned. The ambitions of the two countries will fail unless they invest in training and form partnerships, they say. The demand for high-end semiconductors, otherwise […]

Fosroc is expected to generate $487 million in sales and achieve an Ebitda margin of 18.7 percent in 2024

France’s Saint-Gobain buys Dubai’s Fosroc for $1bn

French construction materials group Saint-Gobain has signed an agreement to purchase Fosroc, a Dubai-based construction chemicals company, for €960 million ($1.03 billion) to expand its international operations. The deal follows the company’s 35 acquisitions since 2021, resulting in combined sales of €6.2 billion across 73 countries after the latest move. The transaction is expected to close by […]

Mumtalakat's investment aims to support the expansion of Racing Force’s helmet factory in Bahrain

Mumtalakat invests in Italian motorsport safety products

Mumtalakat, Bahrain’s sovereign wealth fund, has invested in Italian Racing Force, the parent company of Racing Force Group (RFG), makers of motorsport safety products. The investment, made through its wholly owned subsidiary, aims to support the expansion of Racing Force’s helmet factory in Bahrain. Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, said that collaborating […]

RAK Cement

UltraTech of India scales back bid for RAK Cement

India’s UltraTech Cement, one of the largest cement makers in the world, has scaled back its offer to acquire a larger stake in an Abu Dhabi-listed, Ras al-Khaimah-based company. UltraTech was initially looking to acquire an extra 31.6 percent stake (158 million shares) in RAK Cement Co for White Cement and Construction Materials (RAKWCT). However, […]

Covestro CEO Dr Markus Steilemann. The company has rejected two previous offers from Adnoc

Adnoc makes final bid for German chemicals maker

German chemical company Covestro AG has confirmed that it has started “concrete negotiations” over a $12.5 billion offer from Abu Dhabi National Oil Company (Adnoc). Covestro said in a statement that Adnoc had offered €62 ($67) a share as a starting point for the negotiations, which are subject to the completion of due diligence. In […]

Morocco is rich in phosphate resources, which are key to making lithium-iron-phosphate cells

China picks Morocco for Europe’s EV battery supply

China is intent on establishing a battery supply chain for the European electric vehicle (EV) market in Morocco, a top Volkswagen AG executive has said. The initiative comes as Europe grapples with challenges in establishing its industry to support EV manufacturing. “We don’t have any supply chain. This has to be set up,” Bloomberg reported, […]

A wheel manufacturing workshop in Qingzhou, Shandong province. China is the world's largest importer of crude oil

Upturn for manufacturing tipped to lift oil prices

Rising manufacturing activity worldwide is likely to support higher oil prices in the second half of the year, a supply chain indicator suggests. However, analysts have warned that spare capacity among Opec+ and other oil producers is likely to ease upside pressure on crude prices. The GEP Global Supply Chain Volatility Index hit 0.21 in […]

An Airbus 320 under construction. The Morocco plant is expected to produce parts for 75 planes a month

Airbus to expand production in Morocco as orders grow

European aircraft manufacturer Airbus is expanding its production capacity in Morocco to meet growing demand for its aircraft. The Airbus Atlantic Morocco Composites plant in Nouaceur aims to build parts for 75 A320 family aircraft per month by 2026. The 30,000 square metres plant, with 17,000 square metres dedicated to workshops, “specialises in producing composite […]

Matthias Ziegler: looking to claim a 5 percent share of new SUV sales in the Middle East region for VW within three to five years

Qatar-backed Volkswagen targets Middle East SUV market

Volkswagen Middle East aims to nearly double its share of sport utility vehicle (SUV) sales in the Gulf and Jordan, its regional chief, Matthias Ziegler, told AGBI. The German company, the world’s number two automaker by vehicle sales, and 10 percent owned by the government of Qatar, has numerous sub-brands, including Porsche, Audi, Bentley and […]

The EV factory in Morocco is expected to create thousands of jobs and begin with a 20 gigawatt capacity

Morocco signs Chinese deal to build EV battery factory

China has announced a second large-scale investment in Morocco’s electric vehicle sector with plans for an EV battery factory to take advantage of access to the European market and a burgeoning automotive sector. A $1.3 billion deal has been signed between the Moroccan government and the Chinese-European group Gotion High Tech to build a gigafactory […]

Workers at a semiconductor factory. Saudi Arabia wants global semiconductor design companies to set up in the kingdom

Saudi Arabia campaign aims to attract chipmakers

Saudi Arabia has launched a National Semiconductor Hub in a bid to attract international chipmakers. The kingdom is targeting at least 50 semiconductor design companies to set up business by 2030, aiming to cut its reliance on imported computer chips. The global semiconductor industry, once plagued by shortages, is now showing signs of recovery and […]

A Tata Motors car plant in Sanand, Gujarat. Zulfiquar Ghadiyali called on Indian manufacturers to 'show us you aren’t just here to take money away, you’re here to give it back and employ people'

Indian manufacturers urged to set up shop in UAE

The future of the UAE’s economic partnership with India hinges on more manufacturing taking place in the Gulf state, a senior executive from a royal family office has said. Zulfiquar Ghadiyali, managing director of Royal Arab Holdings, the business arm of the private office of Sheikh Tahnoon bin Zayed Al Nahyan, said Indian businesses were […]

A worker at a foundry in Istanbul. Turkey's manufacturers reported drops in both domestic and foreign orders in the May 2024 PMI

Slump in orders and exports cools Turkish PMI sentiment

Turkish manufacturers are finding their operational environment increasingly difficult, a new survey has revealed. Tighter economic conditions led expectations to fall in May, although some relief came from the slight easing of inflationary pressures. The monthly Purchasing Managers’ Index (PMI) survey, conducted by the Istanbul Chamber of Commerce and S&P Global, fell further into negative […]

The UAE subsidiary of India's UltraTech Cement will hold 61 percent in RAK Cement if the offer is successful

India’s UltraTech offers to boost stake in RAK Cement

India’s UltraTech Cement has offered to acquire a 31.6 percent stake in Abu Dhabi-listed RAK Cement Co for White Cement and Construction Materials (RAKWCT). The Indian cement producer’s wholly owned subsidiary in the UAE, UltraTech Cement Middle East Investments, bought a 29.4 percent stake in RAKWCT in April 2022 for $101 million. The UAE subsidiary […]

A welder at work in Ras Al Kaimah. The northern emirates will benefit from lower electricity tariffs under a new scheme for local manufacturers in the UAE

UAE to direct additional $6bn to local manufacturers

The UAE is to direct an additional AED23 billion ($6.3 billion) to local manufacturers as it strives to develop its homegrown sectors and diversify its economy away from a reliance on hydrocarbons. Abu Dhabi state oil company Adnoc will expand its local manufacturing procurement programme for critical industrial products by AED20 billion to AED90 billion […]