BAKU, Azerbaijan, April 8. International powder coating production company Qemtex plans to open representative offices in the US and Europe, Jandos Temirgali, Chairman of the Board of Directors of the company, told Trend.
"In July 2024, we plan to launch the enterprise in the UAE. At the end of 2024, we will start the second phase, which should be completed by mid-2025. By that time, we plan to open representative offices in the US and Europe and increase the production capacity of the enterprise in Kazakhstan to 3,000 tons per year," he said.
According to him, in 2025, the holding will begin implementing projects in the US and Mexico.
"We are currently actively negotiating with local authorities and selecting locations for these projects. The total capacity of the two enterprises in North America will exceed 40,000 tons per year. Our largest R&D center will also be located in the USA, and we plan to complete the construction of both facilities in 2026," he said.
Temirgali also noted that between 2027 and 2028, Qemtex plans to open a facility in Europe with a research and development center in Italy. Overall, in the next five years, the holding intends to increase its global presence to four to five enterprises with locations in North America, Europe, and Asia.
"The total investment for these projects will exceed $100 million, and in five years, the total annual capacity of the facilities will surpass 70,000 tons per year. Our ambitious plan is to become one of the top 10 global companies in the production of powder coatings within the next seven to eight years. We are confident that these plans are achievable, as we have assembled a team capable of tackling fresh challenges and opening up new horizons," Temirgali said.