7 April 2005
DUBAI -- In the context of big demand and escalating import costs for printing and packaging services in the region, local investors are taking the initiative to fill the supply gap existing in the regional markets.
Taking advantage of the huge market potential, Galadari Interpack Printing and Packaging, a new company set up by the Ziad Galadari Investments is all set to offer state-of-the-art printing and packaging solutions in the regional and international markets.
"We intend to be a leading player in the Gulf printing and packaging market," said Ziad Galadari, Chairman of Galadari Investments.
With an initial investment of Dh100 million, the company intends to offer products and solutions, which are fully compliant with international quality standards. The new company will be located at International Media Production Zone (iMPZ).
Commenting on the selection of iMPZ as the location for the new company, he said that a combination of factors such as the cost effectiveness, excellent location and the overall confidence the company has in Dubai Media City based on their ability to provide exceptional services to the media industry, has prompted the company to locate the new venture at iMPZ.
Galadari Investments, originally established as an offshore investment company in Dubai in 1981, today is a well diversified company with a large portfolio of businesses. Their foray into printing and packaging follows extensive study of the local market. The company has identified a huge demand for printing and packaging products, which is currently met through imports.
"There is a big supply gap in the regional market. Galadari Interpack seeks to fill this gap through high quality products and services," he said.
The entry of Galadari Interpack Printing and Packaging will be a big boost to the iMPZ project that is located on area of more than 43 million square feet of land. Welcoming the new company to iMPZ Mohamed Binghalib, Project Director of iMPZ said, "We are very pleased to welcome Galadari Investments to the business community at iMPZ. The group has expertise in several industries and their presence will add tremendous value to the iMPZ cluster," he added.
iMPZ project, the first media free zone in the region seeks to create a cluster of media production companies. While the infrastructure will support all sectors of media and entertainment industry, the first production cluster will focus the printing and publishing industry.
BY A STAFF REPORTER
© Khaleej Times 2005
