Kuwait's North Africa Holding invests in leading Egyptian glass manufacturer

EGYPT. Kuwait-based investment company, North Africa Holding Company (NorAH), today announced that it has acquired a fifty percent stake in Kandil Glass, one of Egypt’s leading manufacturers of glass containers.

The investment, which will allow Kandil Glass to finance the construction of a new production facility, is NorAH’s first investment in Egypt .

Emad Al-Saleh, Chief Executive Officer of NorAH, commented: “We believe that Kandil Glass, with its ability to customize its offer to market demand and its technical capabilities, has excellent possibilities for growth in the future. We chose to invest in Kandil Glass because of the outstanding quality of its management. Kandil Glass is indeed a young company, it has been founded in 2005, but it can leverage and benefit from the manufacturing capabilities of our partner, the Kandil family, whose successful entrepreneurial history started over 140 years ago. This is NorAH’s first investment in Egypt as well as our entry into the glass manufacturing sector.” 

“The sector’s strong growth and Egypt’s abundant supply of raw materials, together with its reasonable energy costs and proximity to European, Middle Eastern and African markets, make our investment in Kandil Glass an interesting opportunity and a valuable addition to NorAH’s investment portfolio”, added Al-Saleh.

Read more.

600450 Kuwait's North Africa Holding invests in leading Egyptian glass manufacturer glassonweb.com
Date: 13 October 2010
Source: Bi-me.com

See more news about:

See more from these topics:

Others also read

This year P-D Refractories is investing around EUR 1.2 million in the expansion of a new post-processing at the Wetro site.
65% of consumers prefer to consume their beverages in glass packaging at restaurants and cafes.
Al-Hadi Glass Industries lifts its level of professionalism.
The launch event will take place from 25 to 27 April at the Parc Des Expostions de l’Office des Changes.
A new court complex in Kuwait will feature a stunning wall of glass, courtesy of Pilkington Planar™ structural glazing
AGC Automotive Europe has reached a basic agreement with Induver Holding, a glass manufacturer in Morocco, to set up a joint venture for manufacturing automotive glass destined both for Europe and for North African markets.

From industry

40 Corniche El-Nil,
Al Sharafain Tower Maadi,
Cairo Governorate
11728
Egypt

Add new comment