Cairo – Mubasher: France-based Legrand, a global specialist in electrical and digital building infrastructures, has expressed its intent to acquire several Egyptian companies in the coming period as part of its expansion plan in Africa, the Middle East News Agency (MENA) reported on Tuesday.
The company currently considers investing in the New Administrative Capital, alongside its largest factory in Africa in Sadat City which exports 35% of its production to Europe and other countries across the world, the managing director at Legrand Egypt, Nicolas Hobeilah, said.
Legrand exports its products in Egypt to 26 countries, including France, Italy, the US, Brazil, Russia, India, China, and Mexico, he noted.
The French company, which operates in 90 countries, have generated EUR 9 billion in revenue and more than EUR 770 million in profit in 2018.
Situated over about 17,000 square metres, the company’s first and largest factory in Africa is located in Sadat City, creating about 1,200 direct and indirect jobs.
The company’s plans include contributing to efforts aimed at achieving Egypt’s Sustainable Development Strategy (Egypt vision 2030).
