Ludovic de Gromard, the deputy project manager of Saverglass in Ras Al Khaimah, is busy setting up a factory to manufacture luxury glass bottles for the beverage sector and the perfume industry.
Founded in 1897, the French company is setting up its first factory abroad in the RAK Investment Authority (Rakia) free zone.
Here, Mr De Gromard talks about the €75 million (Dh360.8m) project.
Why come to the UAE to set up a manufacturing centre?
It is easy to sell to South Africa, Asia and South America from here as the transport costs are cheaper. We are looking to expand in these markets. Also, the natural gas, construction and labour costs are lower here than in France. Also, we export 45 per cent of the products worldwide and so have a risk of [fluctuations in] euro-dollar conversion. Here the figures will be in dirhams pegged to the dollar. It's a natural way to hedge the conversion [fluctuations]. Also, here we could set up the plant in one year, which could not be done in France.
The project will employ 180 people at its 100,000 square metre factory. How will you train them?
We are recruiting staff from India and the Philippines, all of whom have worked in glass manufacturing before. From October until December, we will have group training on the machines and from January for six months we will have one-on-one, hands-on training. A hundred of our employees from our four French manufacturing plants will come over here for that.
How will you overcome the language barriers?
We are giving English lessons, including specific English vocabulary for the industry, to our French employees. They will be given training in France and in RAK, about the UAE, the Middle East, the local culture, the religion [and] the habits: what has to be done and what cannot be done.
Intercultural management trainings will also be organised with a special focus on the culture of our new collaborators, mainly from India and the Philippines. For our Asian recruits, one criteria was to speak good English.
Why choose RAK over other emirates?
In RAK, we are not one out of hundreds of companies. We are considered one of the important ones and the relationship with Rakia is much appreciated.
Are you going to employ Emiratis?
We will employ local individuals in the administrative positions but we are not sure how many.
What would be the factory's capacity?
The target is 350 tonnes of glass bottles a day and 90,000 tonnes for the first year.
What is Saverglass's turnover?
It was €335m last year and we employ 2,500 people worldwide. Around 95 per cent of our turnover is from sales of beverage bottles, which includes high-end olive oil bottles, and the rest from perfume bottles. We have 64 per cent of the worldwide market share in luxury bottles. Our major markets are Europe and the United States.
When would the factory start operations?
The first bottle will [roll out] at 8am on January 7.
* Sananda Sahoo
twitter: Follow and share our breaking business news. Follow us
iPad users can read the digital edition of business section as it was printed via our e-reader app. Click here
England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
MORE ON IRAN'S PROXY WARS
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
Zayed Sustainability Prize
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.5L/100km
On sale: Now
Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
Abu Dhabi race card
5pm: Maiden (PA) | Dh80,000 | 1,600m
5.30pm: Maiden (PA) | Dh80,000 | 1,400m
6pm: Liwa Oasis (PA) Group 2 | Dh300,000 | 1,400m
6.30pm: Arabian Triple Crown Round-2 (PA) Group 3 | Dh300,000 | 2,200m
7pm: Wathba Stallions Cup (PA) Handicap | Dh70,000 | 1,600m
7.30pm: Maiden (TB) | Dh80,000 | 2,200m
The five pillars of Islam
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
The five pillars of Islam
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Naga
Director: Meshal Al Jaser
Starring: Adwa Bader, Yazeed Almajyul, Khalid Bin Shaddad
Rating: 4/5
The biog
Full name: Aisha Abdulqader Saeed
Age: 34
Emirate: Dubai
Favourite quote: "No one has ever become poor by giving"