Mintra relies on self-financing to establish two factories in “The Tenth” and “October”

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Kassis: The company plans to grant the “Franchise” for the products of the sports shoe factory

The Misr Company for Industry and Trade “Mintra” intends to establish two factories in “The Tenth” and “October” with a self-financing amount of 50 million dollars.

Hani Kassis, the company’s board chairman, told Al Borsa that the financing of the new expansions will be funded from the proceeds of profits and targeted sales early next year.

He explained that Mintra was dependent on banks to finance its industrial activities, but it had developed a new strategy related to future financing plans, especially after it had entered into more than one industrial activity and a multiplicity of funding sources.

Kassis added that the two new factories will specialize in the production of metal furniture, blankets and household appliances, and it is planned to start construction work during the first half of next year, with a desire to operate and produce at the end of 2022.

Mintra has been working in the paper, stationery, plastic, leather, and bags industry since 1964, and owns 5 factories with a production capacity of one million pieces annually for each of its products.

He explained that Mintra exports nearly 80% of its products, such as stationery, notebooks and plastic folders, to several countries, including Italy, America, France, Britain, Morocco and Saudi Arabia, and puts about 20% of its production in the local market.

He stated that the company aims to open new export markets for its products, especially after the markets gradually recovered from the Corona pandemic, specifically England, Russia, and European countries.

He added that the company imports nearly 50% of the raw materials used in industry, and the rest from the local market.

Kassis said that the main goal of entering the sports shoe industry is to create an Egyptian brand that matches well-known international companies, and the company wants, during the coming period, to grant the franchise brand for its products in foreign markets.

Prime Minister Mostafa Madbouly inaugurated the Mintra factory for the production of sports shoes and bags in the Nasr City Free Zone, affiliated with the Misr Company for Industry and Trade.

The article “Mintra” relies on self-financing to establish two factories in “The Tenth” and “October” was written in Al Borsa newspaper.