Back to the complete issue
Thursday, 18 October 2018

Papermaker Fine looks to move Middle East factories to Egypt

** #6 INVESTMENT WATCH- Fine Hygienic Holding looks to move Middle East factories to Egypt: Fine Hygienic Holding is considering closing some of its Middle East factories and building up production capacity in Egypt in the coming period to meet local demand and make Egypt it’s regional export hub, said company executive Rawan Amish. She did not specify a timeframe for the potential move. Fine has 14 factories in the Middle East, including four in Egypt. The company — which will have invested EGP 1.25 bn in Egypt by the end of this year compared with EGP 1 bn last year — had said in February that it plans to invest as much as EGP 120 mn in 2018 to add new tissue and diaper production lines, as well as expand its sales point network and distribution fleet, in an effort to boost exports and tap new African markets.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.