Cairo – Mubasher: Dice Sport and Casual Wear (Dice) announced that a new factory in New Borg Al Arab has been completely established.
With an investment cost of EGP 25 million, the new plant will start production in September at 60% of its total capacity which is 20 million metres annually and will work with full capacity by the beginning of 2020, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
The pilot operation has started earlier in August, the statement added.
The new factory will provide Dice with its requirements of elastic bands and ribbons.
During the first half of 2019, Dice logged a profit of EGP 73 million, compared to EGP 84 million in the same period a year earlier, including minority shareholders’ rights.
