UK's Low & Bonar to target Middle East markets

17 February 2009 12:26  [Source: ICIS news]

LONDON (ICIS news)--UK specialist textiles and performance materials manufacturer Low & Bonar plans to grow its presence in the Middle East, the company said on Tuesday.

The Middle East is one of the fastest growing areas for many of Low & Bonar’s products, such as specialist textiles used in building products and civil engineering, said Robin Stopford, the company’s group head of strategy.

Its first project in the region, a joint venture with Abu Dhabi Basic Industries (ADBIC) in Abu Dhabi, is on track to be completed next quarter.

Bonar Emirates Technical Yarns, owned 75% by Low & Bonar, is building a plant at the Abu Dhabi Polymers Park to produce artificial grass from polypropylene.

Total investment in the venture is estimated at $25m (€19.5m).

“We see our grass investment as the first step to a more significant presence in the region,” Stopford said.

Output from the new plant will initially serve global markets, although Stopford said that the company also intends to develop local markets.

Stopford said that world demand for artificial grass in sport and landscaping is growing each year at 10-15%.

($1 = €0.78)

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By: Elaine Burridge
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