540 firms lineup for Saudi Print & Pack Exhibition

Updated 12 January 2016
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540 firms lineup for Saudi Print & Pack Exhibition

RIYADH: A total of 540 companies from 24 countries are participating in the upcoming Saudi Print & Pack, Plastics and Petrochem Exhibition, which is scheduled to commence at Riyadh Exhibition Center (REC) on Monday.

Prince Saud Al-Abdullah Al-Faisal bin Abdulaziz, chairman, REC, said in his announcement here on Tuesday that the major exhibiting companies would include China, Taiwan, India and Italy.
Prince Saud in his welcome address highlighted the role played by the REC over the years in upgrading the MICE Industry by organizing hundreds of conferences and attracting thousands of exhibitors and visitors.
“The Saudi Print & Pack Plastics and Petrochemicals exhibition is an annual event that gathers the decision makers from the private and public sector, to discuss the latest trends in the industry and explore the local opportunities with a global audience attending from the 24 countries participating in the event,” the prince said.
The press conference was attended by the commercial attaches of China, Taiwan, Italy and India; media representatives, and sponsors’ represented by Fawaz Al-Fawaz, chief financial officer, National Industrialization Company (Tasnee); Ayoub Al-Ghamdi, vice president commercial and logistics, Saudi Polyemrs Co.; Ahmed Bu-Hazza, supply chain general manager, Advanced Petrochemical Company.
Sami Mohammed Al-Osaimi, vice president, Elastomers, PVC, PS, PET, PMMA and POM, explained that SABIC’s participation in this exhibition aims to present innovative and economic solutions that can be developed locally to promote sustainable development.
He confirmed that SABIC is committed through its participation in the exhibition to raise awareness about sustainability as a crucial industrial concept to preserves the future of our generations and natural resources, pointing out the importance of spreading the innovation culture among their visitors during the show.
He added that the specialized chemicals sector focuses its efforts to provide specialized products that offer solutions, and new modern applications for customers and end-users.
Al-Ghamdi said: “The exhibition is an excellent opportunity to exhibit the needs of a growing market in packaging, printing, and plastics industries, and sheds light on the latest technical development and techniques for current and future demands.” Ahmed Bu-Hazza, supply chain general manager, Advanced Petrochemical Company, said, “The Saudi Print & Pack, Plastics & Petrochemicals exhibition is the largest industrial event in the Middle East, the polymers field in particular and provides opportunities to communicate at all levels, which will support the growth and development of polymers products. The industrial manufacturing, especially in the Kingdom, thus accommodates the localization of this industry and of its technical support and development of the Saudi work force and to sustain the growth of this promising market, which is compatible with the goals of our government.”
Pramod Kumar Agarwal, second secretary (economic and commercial), Embassy of India, thanked the REC for organizing this significant event and said “The Kingdom of Saudi Arabia is the 4th largest trade partner with an annual bilateral trade of around $ 40 billion.” He added that India will be represented by more than 50 companies at the show and it is also arranging a B to B event in Riyadh.
Faisal AN, economic counselor, Taipei Economic & Cultural Representative Office, Taiwan, said: “The Taiwan pavilion will host 24 suppliers who are ready to show their cutting-edge products and technologies, and prove their expertise in making plastic and rubber machinery.”


Philips to close its UK factory in 2020, with loss of 400 jobs

Updated 55 min 51 sec ago
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Philips to close its UK factory in 2020, with loss of 400 jobs

AMSTERDAM/LONDON: Dutch health technology company Philips said on Thursday it planned to close its only factory in Britain in 2020, with the loss of around 400 jobs, the latest firm to move manufacturing jobs out of Britain.
The move is part of a push by Philips to reduce its large manufacturing sites worldwide to 30 from 50, and a spokesman said the decision had no direct link with Britain’s decision to leave the European Union.
However, the company said in a statement that it had to “pro-actively mitigate the potential impact of various ongoing geopolitical challenges, including uncertainties and possible obstructions that may affect its manufacturing operations.”
The factory in Glemsford, Suffolk, produces babycare products, mainly for export to other European countries. Almost all its activities will move to Philips’ plant in Drachten, the Netherlands, which already employs around 2,000 workers.
“We have announced the proposal after careful consideration, and over the next period, we will work closely with the impacted colleagues on next steps,” said Neil Mesher, CEO of Philips UK & Ireland.
“The UK is an important market for us, and we will continue to invest in our commercial organization and innovation programs in the country.”
Once a sprawling conglomerate, Philips has transformed itself into a health technology specialist in recent years, shedding its consumer electronics and lighting divisions.
The firm has previously warned that Brexit would put Britain’s status as a manufacturing hub at risk.
Chief Executive Frans van Houten last year said that without a customs union — which has been ruled out by Prime Minister Theresa May — Philips would have to rethink its manufacturing footprint.
Britain is set to leave the EU on March 29, and politicians are at an impasse over how to do so after lawmakers overwhelmingly rejected May’s proposed withdrawal agreement on Tuesday.
Other firms have moved jobs out of Britain in recent weeks, sparking alarm among lawmakers that Brexit is impacting corporate decision-making.
Jaguar Land Rover has slashed UK jobs — mainly due to lower Chinese demand and a slump in European diesel sales — while Ford has said it will slash thousands of jobs as part of its turnaround plan.
While both decisions were driven by factors other than Brexit, each firm has also been vocal in warning of the risks of no-deal Brexit, where Britain leaves abruptly in March without a transition period.