10 Dec 2018 08:13
Cairo, 10 December 2018
Domty signed a contract last week to acquire & install a new bakery line with AMF, a US company considered to be the world leading manufacturer of high speed bakery equipment.
The production capacity of the new line is 400 thousand pieces per day which is double the capacity of the current line.
The cost of the new line is USD 4 million, The source of the funds is the remaining cash proceeds resulting from the capital increase that took place after the IPO in addition to Domty retained earnings, the cost of the line will be paid throughout a year.
The new line is expected to start operating in September 2019; the line is able to produce various types of baked goods in addition to the Domty Sandwich.
The company also signed a memorandum of cooperation with AMF to benefit from the expertise of this global company in the introduction of new products in the field of baked goods in the Egyptian market and this will be announced in due course.
This step comes as an addition to Domty's expansion plan in the field of baked goods and snacks, which is characterized by a higher gross profit margin compared to the rest of the company's products and offers the company significant opportunities for growth in many areas, as well as the field of cheese and juices.
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About Arabian Food Industries Company Domty S.A.E.
Domty, founded in 1988and headquartered in Egypt, is a leader in the growing Egyptian cheese and juice market. The Company manufactures, markets and distributes a range of branded white and processed cheeses and juice products, with a family of nearly 200 SKUs under a brand portfolio including Domty, Damo, Gebnety and Bravo. Domty is a household name and the number-one cheese producer in the nation by market share. The Company sells to tens of thousands of retail and business customers as well as to more than 35 export destinations. Learn more about Domty by visiting Domty.org.
Contact
Ahmed Mohy EldinInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 0555 2235| ahmed.mohy@domty.org
DOMT.L (DOMT)