Nestlé, Sakr Group and Hero looking to increase exports in 2017
Nestlé Egypt is planning to increase its exports 30% Y-o-Y to EGP1bn in 2017, as it looks to focus on Africa. The company is also planning to invest EGP1bn over the next five years to increase domestic production, with EGP250mn to be invested in 2017, according to the company’s CEO. Similarly, Sakr Group for Food Industries is also planning to increase exports by 66% to USD30mn in 2017, targeting Arab and European countries as well as the US. Also, fruit based food company Hero (owner of Vitrac brand) is also looking to double exports to EGP500mn in 2017 according to Managing Director Mahmoud Bazan. This should raise exports to 50% of sales, up from 34% in 2016.
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