Papermaker Fine looks to move Middle East factories to Egypt

** #6 INVESTMENT WATCH- Fine Hygienic Holding looks to move Middle East factories to Egypt: Fine Hygienic Holding is considering closing some of its Middle East factories and building up production capacity in Egypt in the coming period to meet local demand and make Egypt it’s regional export hub, said company executive Rawan Amish. She did not specify a timeframe for the potential move. Fine has 14 factories in the Middle East, including four in Egypt. The company — which will have invested EGP 1.25 bn in Egypt by the end of this year compared with EGP 1 bn last year — had said in February that it plans to invest as much as EGP 120 mn in 2018 to add new tissue and diaper production lines, as well as expand its sales point network and distribution fleet, in an effort to boost exports and tap new African markets.