German based SOEX Group, a globally leading company in the sector of recycling and marketing of used textiles plans to invest â‚¬5 million (Dh20.7 million) in Sharjahâ€™s Hamriyah Free Zone, it will start its operations by the middle of 2017. This is their first venture in the UAE, according to a statement from the free zoneâ€™s authority on Sunday.
Soex Group plan export 50 percent of their products made in the emirate to African countries and 25 percent each to Eastern Europe and the Middle East respectively.
SOEX have leased more than 300,000 square feet of land in the free zone, where it plans to build a new plant as soon as possible and will employ between 300 and 400 staff in Sharjan, said Axel Buchholz, managing director of executive board of the Soex Group, after signing the contract with Saud Salim Al Mazrouei director of Hamriyah Free Zone Authority and Sharjah Airport International Free Zone.
After signing the contract at the headquarters of Hamriyah Free Zone Authority, Al Mazrouei, said that they remain committed to giving their valued customers the best possible infrastructure to help support their growth aspirations.
This step will enable them to grow in the region and they see this development as another example of their efforts in empowering businesses paying off.
The Soex Group founded in 1977 has sites and shareholdings in five countries and more than 1,000 employees today. It has been giving used textiles a new lease of life for more than 35 years.
The Soex Group covers the entire value chain of used textiles collection, marketing, recycling and reuse on six continents. At the same time the organization of the SOEX GROUP is sufficiently decentralized to ensure that expert contacts are on hand locally for their customers at all times.
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide