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FINANCIAL NEWS
Egypt-Edita Food to expand in Gulf markets
16 Oct 2016
(MENAFN) Edita Food Industries proclaimed that the firm aims to enter new markets in the Gulf region in the coming period, after a contract with Khalifa Cold Stores in KSA.
Accordingly, the company has adopted an expansion-based plan focused on marketing new brands that were obtained from Hostess Brands Co.
Additionally, the firm has obtained loans worth EGP170mn from the Arab Bank, as well as another loan of 6mn euro to finish the building of its new factory E08.
The cost of establishing the project has increased due to the appreciation of the US dollar price; the initial cost was estimated at EGP160mn.
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