Czech non-woven textile firm to build 60m euro plant in Egypt
Czech maker of non-woven synthetic textiles, Pegas Nonwovens, will invest 60 million euros into a new factory in Egypt as the first step of its international expansion, the company said on Wednesday.
Egytex News Desk
Egytex
"The establishment of the company is the result of successful negotiations with a major customer, who expressed interest in a supply arrangement for our products to its production plants in the Middle East," board member Frantisek Rezac said in a statement.
"We have received a preliminary award letter for long term deliveries to these plants."Pegas said it planned to build two production lines in Egypt in the medium term with total annual capacity of 45-50 thousand tonnes, with the first going on line in the second half of 2013.
From the Egytex news archive, first published on 2 June 2011. Figures and names are as reported at the time.
