By: Ahmed Allam
Cairo - Mubasher: The marketing manager of Universal Group for home appliances said the company's investments in the Egyptian market totalled around EGP 3 billion at the end of 2016.
Khaled El-Sayed also revealed that Universal has a target of raising exports to 40% of its production.
Universal has achieved 70% self-sufficiency in its needs in components and raw materials by largely investing in feeding and supplementary industries in order to reduce imports by providing high-quality local alternatives to save foreign exchanges, El-Sayed added in a press conference at the group’s headquarters on Tuesday.
The marketing manager also pointed out that Universal has market share of 40% in the local market, 37% in the cookers market, 40% in water heaters, and 30% in washing machines.
The group plans to enter 12 new markets soon to expand its export base, as it currently exports 30% of its production to between 80 and 88 markets around the world, El-Sayed indicated.
