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Monday, 12 February 2018

Dice to invest USD 3 mn in new equipment to boost production

Dice Sport and Casual Wear has borrowed USD 3 mn from QNB Alahli to finance expansion plans, Dice CFO and board member Victor Fakhry tells Al Mal. The company intends to purchase equipment for a new production line at its printing factory and add capacities to its Kafr El Dawar plant in order to boost revenues. Dice has already signed purchase agreements for EUR 2 mn-worth of printing equipment from the EU, he added. Fakhry had said last month that Dice is planning to open 48 new branches in 2018 in a bid to double its market share to 20%. It also recently reached an agreement with Levi’s that will see it export children’s wear to the US this year.

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