Ayear ago, and following the financial crisis, a new era began that shaped the world’s economy. September 2008 is a
month to remember !
Like any other sector, the paper industry ; our direct related subject, suffered from the crisis.
We have seen mills closures, paper machines shut downs and production decrease…
Everybody is aware that we are still facing great challenges, as the crisis did not spare any one.
We have seen international companies declaring bankruptcy, others reducing the number of their employee, and cutting down with their production.
Everybody was trying, by all means, to find a way out !
In the Middle East area, paper producers faced sudden drop in the packaging material demand, and the worst was in dumping the Middle East
market with products coming from European and Asian countries.
But what is September 2009 bringing to the paper industry in the Middle East ?
It is bringing positive and good news ; many Middle Eastern companies specialized in the paper industry declared their intention in expanding
their business in the area. Many of them have already started expansion projects in their mills in Saudi Arabia, Egypt and Syria.
The investors in the paper industry in this area were aggressive and courageous. They took constructive measures to protect their investments
and to proceed with their expansion plans.
We do hope that their attitude will reflect positively on the paper industry and it will enable them to confront better any future crisis in this
sector.