Cairo – Mubasher: MM Group for Industry and International Trade (MTI) has signed a distribution agreement with Europe’s largest manufacturer of home appliances BSH Group.
Sales are scheduled to commence in February 2018 and are expected to add in-excess of EGP 200 million to the company’s 2018 revenues, MM Group said in a statement to the Egyptian Exchange (EGX) on Tuesday.
BSH group is Europe's innovation leader and the world's second-largest producer of household appliances.
"The free trade agreement between Egypt and Europe will allow us to offer the Bosch brand to the market with competitive prices compared to other brands in the market,” commented chairman and CEO of MTI Khaled Mahmoud.
“MTI aims to reach a wider consumer base through delivering an overall premium consumer experience in Egypt,” he continued.
MTI’s capital amounts to EGP 396 million distributed over 396 million at a par value of EGP 1 per share.
