Thrace Group is preparing to pump new investments in Egypt this year, through establishment of a polyethylene packaging for the food sector with investments worth € 7 million.
The production is expected to start in two years by 2021, and the company has three industrial areas for implementation ”6th October, 10th Ramadan and Free Zone in Upper Egypt”.
Hani Suleiman regional manager of Thrace Group in Egypt and Libya, explained that the company plans to set up a factory in Egypt to manufacture polypropylene plastic packaging for food products.
Suleiman said the factory seeks to benefit from the Egyptian market and export to the Africa and Arab countries markets , as these markets enjoy trade agreements with the continent, the Gulf and customs facilities.The company expanded in Africa and Arab region and has it’s sales worth € 350 million.
polypropylene plastic packaging for food products
He explained that the company is working in plastic bottles of polypropylene manufacture as a safe material for food products, to serve the expansion of food companies, especially that wishing to export.
Meanwhile, the factory is able to meet part of the demand in these markets, especially as the company’s products get a large demand in Europe.
Also, the company will start implementation procedures next year with an initial investment € 7 million, and is considering to pump additional investments in the production of machinery for the food sector in coming period.
The company has a customer base in Saudi Arabia, UAE, Jordan, Tunisia, Lebanon, Syria and Kuwait and is moving to expand industrial investment with its global sales growth over € 350 million.
Thrace Group seeks to expand in Egypt and the Arab region which focuses on Libya, Egypt and Sudan markets; it participates annually in Africa Food Industry exhibition as a good opportunity to meet new customers, other than participating in Gulfood exhibition.
The company is of Greek origin; it owns 5 factories, 2 in Greece, 1 in Romania, the fourth in Bulgaria and the last in Ireland.