Feb 1, 2020 08:21
On the sidelines of the Luxembourgish economic mission to Dubai
The global plastic giant wants to make Luxembourg its hub to conquer the European market.
GAP Polymers arrives in Luxembourg for Europe
Written by Nicolas Léonard (in Dubai)
Posted on 30/01/2020 at 10:54 am • Edited at 11:27 am Marc Theisen,
Lubna Ossama and Ehab Sharaf. (Photo: DR)
Info Paper jam - "Next week, we will be in Luxembourg to go through more discussions with the ministries, but I can say that it is clear: GAP Polymers will officially settle in Luxembourg in the coming months. we have been into these negotiations for a year and a half of and a great joy to see this happy outcome. " Lawyer Marc Theisen (Theisen & Marques study) is very proud to highlight this event during the reception held by the Chamber of Commerce during the economic mission to the United Arab Emirates.
850 million dollars revenue
GAP Polymers is a major player in the plastics industry worldwide that has achieved $ 850 million in sales, designing and reprocessing bottles as well as corks and pipes. Its parent company, Gulf Manufacturing Group, based in Jeddah in Saudi Arabia, employs 2,300 people and trades in 43 countries. In recent years, it has made sales of $ 850 million and counts among its customers Pepsi, Coca-Cola, Unilever or Nestlé. Now, GAP Polymers aims to reach the European market to eventually become the world leader in its sector. "Luxembourg must indeed allow us to have our presence in Europe," explains Ehab Sharaf, plant manager at Gulf Manufacturing Group. "At the moment, our activities cover the whole world ... except Europe. It was a gap that we wanted to fill quickly. "
Political stability and `` business friendly '' climate
Two years ago, contacts were made with Marc Theisen, who has been active in among in the Middle East for 20 years.
"We met and he helped us find our place," confirms Ehab Sharaf. Luxembourg quickly became prominent, and thanks to the economic missions that happened at several countries.“ its central position in Europe, which makes it possible to shine among the neighboring countries in addition to the political stability and the country's position as a financial center, which are important factors for us and which are not easy to find everywhere, ” highlights the factory director. who also didn’t mind highlighting “that taxation and the business-friendly climate were also elements that counted for us while considering Luxembourg.”
The progress of the project will be presented next week to Pierre Gramegna (DP), Minister of Finance and the Minister of the Economy. With the final details settled, GAP Polymers will proceed with having a residence in the coming months. "We will first start with a team of 15 people," explains Lubna Ossama, regional HR manager at GAP Polymers. "But this is only the beginning: the teams then quickly will quickly expand since we know the keys of success and always act as a fair employer who has strong core values."