Symphony Environmental Enters Into Manufacturing Deal With Ecobatch Plastic Factory in UAE
Symphony Environmental Technologies Plc, a global leader in technologies that make plastic and rubber products smarter, safer, and more environmentally friendly, has announced the completion of a production deal with Ecobatch Plastic Factory in the United Arab Emirates.
This agreement, as disclosed on August 1, 2022, is for the production of biodegradable d2w masterbatch, predominantly for supply to the Middle East. After ESMA (UAE) and SASO (Saudi Arabia) approval, production should begin in the third quarter of this year.
Ecobatch, which is owned by the same family as the Group’s distributor in the region, Ecopolymers, has received state funding to set up this masterbatch manufacturing facility, which is already producing white, black, and coloured masterbatch products for the plastics industry in the UAE and Saudi Arabia. This also fits in with Symphony’s capital-light model.
The Middle East is one of our primary markets, and it is anticipated that the implementation of this agreement will improve stock availability and control throughout the supply chain, reduce costs, improve efficiencies, and increase sales, as buyers typically prefer locally-made items. Importantly, this is in line with our ESG approach, especially about minimising CO2 emissions from extensive transit routes.
Ecobatch has sufficient capacity to meet a large rise in regional demand, which is predicted owing to the expansion of rules that support the d2w biodegradable technology type.
Michael Laurier, CEO of Symphony Environmental, said:
“We are delighted to be using Ecobatch to improve our supply chain and have been working with the owners for many years now in developing the market for our products, which we believe is primed for further growth.”
Source: Directors Talk Interviews