Cairo – Mubasher: Mars Wrigley Confectionery’s Egyptian arm is currently exporting 80% of its products to over 25 countries, regional managing director for the MENA region said.
Duncan McCulloch added that the company’s exports are likely to surpass $100 million by the end of this year from $42 million in 2017, according to a statement by the Egyptian Ministry of Industry.
He noted that the Egyptian arm is providing around 10,000 direct and indirect jobs.
This came on the sidelines of a meeting between Egyptian industry minister Amr Nassar and a delegation representing Mars Wrigley International to discuss current investments and future plans of the company in Egypt.
The world's leading manufacturer of chocolate and sweets aims at raising its investments in the North African nation amid the ongoing economic reforms, which attracted numerous foreign investments, McCulloch stressed.
The company is also focusing on boosting its exports to the local market as it has doubled the list of its domestic suppliers over the past three years, he indicated.
He pointed out that the company is looking to fully depend on local manufacturers to package and wrap its own materials by the end of the year.
For his part, Nassar noted that Mars has added two new production lines to its factory in Egypt with over EGP 750 million in investments last February.
The minister also remarked that the company has inaugurated a new production line, the only line for manufacturing “Jewels” in the world, with $24.8 million in investments and it offers nearly 179 jobs.
These expansions have boosted investments in Egypt to hit $165 million up-to-date, he revealed.
