Update my subscription
CHAMPION OF THE DAY
Sleep Comfort to
tap Egypt in 2017
Turnover expected to reach $20 million as a start
Sleep Comfort, a manufacturer of mattresses and furniture, will open a factory in Egypt in late 2017.
Noel Ayoub, Chairman, said: “We find it feasible to tap this large market.”
Investment in the project is estimated at $20 million. “The operational costs are very low compared to Lebanon,” he said.
The facility will cover an area of 10,000 square meters. It will create 500 full time jobs.
The turnover of the Egyptian facility is expected to be $20 million in the beginning. “We will be producing a series of furniture articles to fulfill market demand,” Ayoub said.
Part of the factory’s production will be exported to African countries.
Sleep Comfort’s turnover in Lebanon decreased from $20 million to $10 million this year, due to the unstable economic situation.
Reported by Rania Ghanem
Your browser does not support iframes.
Nov 02, 2015
Your browser does not support inline frames
2023 by InfoPro sal. All Rights Reserved