By Staff writer
Global supplier of marine, protective and decorative coatings says planning to double market share in Gulf kingdom
Hempel Paints, a global supplier of marine, protective and decorative coatings, announced plans to move its entire production in Saudi Arabia to a new plant in Jeddah’s Second Industrial City.
The factory in Jeddah is Hempel’s first 100 percent water-based production factory in the Middle East, the largest in region, and the second largest in the world, the company said in a statement.
Ahmed Abdul Aziz, sales and marketing director at Hempel Paints Middle East said the factory would support growth in the Saudi construction sector and plans to build 40,000 hotel rooms by 2018 in Riyadh and Jeddah and 120 hotels by 2020 in the kingdom.
“Built on 15,000 square metres, the factory has production lines with manufacturing capacity of 32 million litres a year. The plan is to increase the maximum capacity to around 40 million litres annually.”
He added: “The paints and coatings market has a great growth potential, with an estimated value of SR3 billion a year, and Hempel Paints is aiming to double its market share in the kingdom.”