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BSH’s first Egyptian, African factory kicks off operations: Bosch subsidiary BSH Home Appliances has inaugurated its first factory in Egypt and Africa with investments of EUR 55 mn, according to a statement. The factory, located in Tenth of Ramadan, will manufacture home cooking stoves for both domestic and export markets.
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The project at a glance: The plant has an annual production capacity of 350k stoves, 50% of which will be earmarked for export to African and Middle Eastern markets — future plans see the factory exporting products to Australia, Canada, and Latin American markets. The project will create around 1k direct and indirect jobs.
Expansion plans in the pipeline: BSH executives told Prime Minister Moustafa Madbouly that they already have plans to expand operations locally and will present detailed proposals to the government soon.
REFRESHER- The German manufacturer was granted a golden license for the project back in 2023, shortly after announcing its plans for the factory, which is designed to be carbon-neutral.
Years and years in the making: BSH has been eyeing the Egyptian market since 2018, when it initially reported interest in constructing a EUR 80 mn water heater and stove manufacturing company. The company signed a memorandum of understanding with the Trade and Industry Ministry in 2019 to build its home appliances factory.
HMZ LAUNCHES JOINT-
Homzmart parent company HMZ Holding launched a furniture production and supply chain management arm called Joint, which was announced alongside the opening of a USD 1 mn factory for the new company, according to a statement from the company seen by EnterpriseAM. The factory, located in Sixth of October, has an annual production capacity of 60k pieces of furniture. It is also part of a broader network of 60 factories producing for Joint, backed with USD 4 mn in total investment, that is aiming to collectively produce 700k pieces by 2027.
