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English news

03-Apr-2016

Edita to begin construction of second phase of new plant in 2017, plans to accommodate 11 production lines

Edita Food Industries (EFID.CA) announced that it will start building the second phase of its newest factory (E08) in Sixth of October's Polaris Al-Zamil district in 2017, with production expected to commence by end of that year. The factory is to be built over two phases, with cost of the first phase (land and buildings) estimated at EGP200 million, which the company should complete the payment for during 2016, said Hani Berzi, the company's Chairman and CEO. Edita plans to add 11 new production lines for the new Hostess products, which the company had recently acquired the rights to manufacture in the Middle East, and to extend its distribution of some goods it already has rights for to 12 additional countries, Berzi added. On another note, Edita's strudel line, which started its trial phase in February 2016, is scheduled to start commercial production in April 2016.The company is still assessing which line the remaining area at its E07 plant will accommodate. (Al Borsa)   Edita Food Industries: EGP34.97 as of 31 March 2016, Rating: Neutral, FV: EGP33.00 per share, MCap: USD1,428 million, EFID EY / EFID.CA

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