Polyplast, which specializes in the manufacture of polycarbonate panels, intends to invest $4 million in a new production line for the manufacture of television and mobile screens, in order to diversify the company’s activities and meet the local market’s needs of these products.
Engineer Amr Fattouh, Chairman of the Board of Directors of Polyplast, said that Egypt imports large quantities of these types and the state is directing to replace them with local products, motivating the company to enter this field, especially since Egypt is one of the largest consumer markets in this sector.
Fattouh added to the Stock Exchange that the company has completed a feasibility study for the new manufacturing line, and it is expected to obtain financing from banks and the Small Enterprises Authority in preparation for contracting it and importing it for operation during the next year.
He pointed out that Polyplast invested 15 million pounds in adding two new production lines last year to produce alternative UPVC sectors for aluminum sectors, which are used in doors, windows and building facades.
He stated that the company owns two factories in Badr City, the first on an area of 4,000 square meters, and operates with a large production line, and the second on an area of 8,000 square meters and works in the manufacture of polycarbonate sheets.
Polyplast has been operating in the Egyptian market since 2014, and is the first factory specialized in the production of polycarbonate panels, an alternative to the glass used in cladding doors, fences, planetariums, awnings, doors, windows and greenhouses.
He pointed out that the company intends to open new export markets next year in the South American continent, in addition to South Africa and Cameroon in the African continent.
He stated that the negative repercussions of the Corona virus affected local markets significantly, but the financing initiatives directed at small and medium enterprises and the industrial sector in general contributed to alleviating these problems.
The article “Polyplast” invests 4 million dollars in manufacturing TV screens was written in Al Borsa newspaper.