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Pin to quick picksEdita Food Regs Regulatory News (EFID)

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Ministry Visit

11 Apr 2022 07:00

RNS Number : 8735H
Edita Food Industries S.A.E.
10 April 2022
 

Egypt's Prime Minister H.E. Mostafa Madbouly and Minister of Trade and Industry H.E. Nevine Gamea Visit Edita Food Industries' E07 Facility

Prime Minister H.E. Mostafa Madbouly, Minister of Trade and Industry H.E. Nevine Gamea, General Ahmed Rashed, Governor of Giza, and Mr. Mohamed Abd El-Wahab, Executive Director of the General Authority for Investment and Free Zones (GAFI) visit Edita's state-of-the-art E07 facility in 6th of October City

Cairo, 10 April 2022

Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFID.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market, welcomed today Egypt's Prime Minister Mostafa Madbouly and Minister of Trade and Industry Nevine Gamea, General Ahmed Rashed, Governor of Giza, and Mr. Mohamed Abd El-Wahab, Executive Director of the General Authority for Investment and Free Zones (GAFI)at its E07 facility in 6th of October. During their visit, the Prime Minister and Minister toured the state-of-the-art facility and saw the production process for some of Edita's most renowned brands.

Located in Polaris Industrial Prark, 6th of October City, Edita’s E07 facility is one of the company’s five local state-of-the-art production facilities, as well as its first overseas production facility in Morocco, which commenced operations in December 2021. Located in Polaris Industrial Prark, 6th of October City, Edita’s E07 facility is one of the company’s five local state-of-the-art production facilities, as well as its first overseas production facility in Morocco, which commenced operations in December 2021. The facility encompasses two production halls that house ten of Edita’s 32 production lines producing a wide range croissants, cakes, wafers and rusks. All of Edita’s six local and regional state-of-the-art facilities production facilities operate in full compliance with the highest standards in food safety and manufacturing quality. The facilities have a combined annual production capacity of 181,535 tons and a labour force of over 7,000 employees.

The company plans to invest c.EGP 1 billion over the coming three years to further expand its operations and hence generate employment opportunities in.

-Ends-

About Edita Food Industries S.A.E.

Edita, founded in 1996 and headquartered in Egypt, is a leader in the growing Egyptian packaged snack food market. The Company manufactures, markets and distributes a range of branded baked snack products including packaged cakes, bakery, rusks (baked wheat), wafers and biscuits as well as selected confectionary/candy products. The Company's local brand portfolio includes household names such as Todo, Molto, Bake Rolz, Bake Stix, Freska, Oniro and MiMix. The Company also has the exclusive ownership of the international Hostess brands Twinkies, Hoho's and Tiger Tail in Egypt, Libya, Jordan, Palestine, Morocco, Algeria, Tunisia, Syria, Lebanon, Iraq, Bahrain, Oman, the UAE, Kuwait, Qatar and Saudi Arabia; and is party to a technical assistance and know-how agreement to manufacture 11 additional Hostess brands across its territories. The Company holds strong number-one market positions in its core cake and bakery segments as well as in rusks, a leading market position in candy and a growing market position in the wafers segment. In FY2021, the Company derived 94.1% of its revenue from Egypt and 5.9% from regional export markets. Learn more at ir.edita.com.eg.

Contacts

Ms. Menna Shams El Din

Head of Investor Relations

T: +202 3851-6464 | M: +2010 0 154 2428 | menna.shamseldin@edita.com.eg

Forward-Looking Statements

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as "according to estimates", "aims", "anticipates", "assumes", "believes", "could", "estimates", "expects", "forecasts", "intends", "is of the opinion", "may", "plans", "potential", "predicts", "projects", "should", "to the knowledge of", "will", "would" or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Company.

Forward-looking statements reflect the current views of the Company's management ("Management") on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Company's actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.

The Company's business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this prospectus. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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STRSFLSASEESEDL
Date   Source Headline
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