Egyptian presidency announced on Saturday that a major German automotive company will build its first factory for the production of metal cutting machine tools in Africa.
The Arab Organization for Industrialization (AOI) inked on Saturday a deal with German machinery manufacturer DMG Mori to introduce the company’s technology domestically, according to Sky News Arabia.
The signing ceremony was attended by Prime Minister Moustafa Madbouly, Head of the Executive Board of (DMG), Christian Christian Thönes; Head of AOI, Major General of AOI Abdel Moneim Terras, Mahmoud Ali, Managing Director of the company in Africa, and several representatives from the Egyptian Government.
For his part, Terras revealed that the well-known Lathes and Milling machines manufacturing company in German signed a long-term strategic cooperation agreement with the giant Egyptian firm.
"This agreement will allow the company to further consolidate its sales and service network in African key markets," added Terras.
On the other hand, Thönes has previously announced that Egypt is on the right track toward industrial competition. He confirmed that Cairo is important for his company, especially in light of its chairmanship of the African Union (AU).
During his last meeting with President Abdel Fatah El Sisi in May, Thönes was told that they were looking for a location to build a factory tools machine in Egypt.
It’s worth mention that German company manufactures a wide range of industrial products and machinery — including metal cutting machine tools, medical devices, and automotive and aerospace components.
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