By: Ahmed Allam
Cairo – Mubasher: Mars Wrigley Confectionery is seeking to increase its investments in Egypt to EGP 2 billion by the end of 2018, global president Martin Radvan said in an interview to Mubasher on Tuesday.
The world’s leading manufacturer of sweets is planning to turn the North African nation into an industrial and export hub for its products in Asia, Middle East, GCC region, and Africa, Radvan added.
“We [Mars] will inaugurate two new production lines in our factories in 6th October city with more than EGP 750 million in investment,” he continued.
The US-based company is planning to double export sales to $100 million by the end of this year from EGP 43 million now, he indicated, pointing out that the company is targeting to export 80% to 90% of its total production from 60% now.
This expansion reflects Mars’ confidence in the Egyptian economy, he noted.
Radvan unveiled that Mars’ current expansion came in line with its 17th-anniversary celebration of being in the Egyptian market.
He said that the company has succeeded in doubling its investments in the Arab world's most populous country to more than EGP 1 billion now from EGP 50 million in 2001.
Mars exports its products from Egypt to more than 20 markets in Asia, Africa, Middle East, etc.
Mars Wrigley is world’s leading manufacturer of chocolate, chewing gum, mints, and fruity confections with sales surpassing $35 billion annually.
The global firm produces and market nine brands with up to $1 billion per year, including Galaxy, Twix, M&Ms, Mars, and Bounty.
Translated by: Mai Ezz El-Din
