Company to set up manufacturing complex for float glass, aluminium profiles, and cladding

Doaa A.Moneim , Sunday 20 Mar 2022

Delemar Aluminium — one of the largest extruded aluminium companies in the Egyptian market — announced its plans to double its investments in the Egyptian market over the coming five years and to raise its exports to 40 percent in 2022, up from the 20 percent recorded in 2021, according to Delmar CEO Mahmoud Haroun.

In a statement, Haroun stated that the company will begin constructing a factory for processed glass in 2022 with total investments of EGP 750 million following the construction of another factory in the Sixth of October Industrial Zone with an annual productive capacity of 600,000 sqm.

In 2023, the company is considering doubling the factory’s capacity as well as going public under an initial public offering (IPO) programme in the Egyptian Exchange (EGX), according to Haroun.

“Egypt is one of the best markets in the Middle East due to the mega projects that are being constructed in the country and the economic and political stability it enjoys. Moreover, the government extends incentives for investors in the industrial sector that aim to stimulate the sector’s production, which reflects the interest the state attaches to improving it,” Haroun explained.

Delmar was established in 2008 and began production in 2012. It operates six factories for aluminium profile production.

It is also an Egyptian joint stock company S.A.E with a capital worth EGP 100 million with a production capacity estimated at 20,000 tonnes annually.

Egypt’s aluminium and its associated manufactured exports in 2021 jumped to $635 million, up by 44 percent from 2020, according to the Export Council for Building, Refractory, and Metallurgy Industries.

Link: https://english.ahram.org.eg/NewsContent/3/14/463154/Business/Markets–Companies/Delmar-Aluminium-to-double-investments-in-Egypt-ov.aspx