US-based textiles manufacturer, WestPoint Home as part of the companyâ€™s ongoing growth in the Gulf kingdom inaugurated its new spinning facility in Bahrain. Works on the spinning expansion were initiated in 2015 with the aim of mitigating the negative financial impacts of the 2016 expiration of the tariff preference level that allowed it and other textile manufacturers in Bahrain to import certain support materials, such as yarn, and export finished goods into the US duty free.
Normand Savaria, CEO of WestPoint Home, said that they are delighted to inaugurate their new facility, which will increase their spinning capacity in Bahrain by 38 percent. As the only textile company to continue to invest in expansion and to maintain operations in the kingdom, this investment underscores their commitment to Bahrainâ€™s economy.
The new $9 million investment marks WestPoint Homeâ€™s third expansion in Bahrain over the past five years and more than $160 million of investments over the past 10 years, where products produced generate over 50 percent of its total global revenues annually.
By spinning more yarn in Bahrain, they will decrease lead times, increase flexibility and, along with other initiatives, help to offset costs resulting from the TPL expiration of 2016. This is a considerable achievement for them and one which will positively impact their employees and serve to further enhance their ongoing contributions to the kingdomâ€™s economy.
The company at the inauguration ceremony said that there were additional future investments in Bahrain including further expansions in production capacity aimed at capitalizing on growth opportunities in the GCC and European markets in addition to the US.
It will also effectively allow them to build on what is already over $100 million of exports annually from Bahrain to the US as well as expanding their ability to further sales in other regional and international markets.
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