Saudi-based Construction Products Holding Company (CPC) has opened its first factory in China producing quality marble with an investment of $15m.
The company said the factory was part of its expansion plans in a major emerging market and will deliver its innovative building technologies more quickly to the growing number of customers based in China, Saudi Arabia and the GCC region.
The new factory is expected to produce 400,000 sq m of interior/exterior flooring, wall panels and interior decorations, it added in a statement.
Walid Samaha, CPC's chief operating officer, said: "China is an important market for CPC and we have a long-term commitment and strategic interest in this market. It will also enable our industrial marble business to expand and leverage its global reach, and win market share in emerging markets."
He added: "This move is part of the company's ongoing programme to consolidate and optimise its global production network and we chose China because of positive investment environments, availability of the raw materials sources and the efficiency of the industry park infrastructure."
Riad Kiwan, chief operating officer of CPC International, added: "The inauguration of the GNMT Factory is an important milestone for us and our customers. The new factory will enable the company in implementation of its projects domestically and internationally."
Fifty percent of the production of the new factory will be allocated for domestic consumption in China, and 50 percent for export to Saudi Arabia and the GCC countries, he said.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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