India's Marico
plans third plant in Egypt
20 November 2007
Mumbai (Thomson Financial) - Indian consumer goods producer Marico Ltd is in the process of setting up its third manufacturing facility in Egypt and the same is expected to be operational by the second half of next year, local business daily The Economic Times reported.
'The Egypt facility will supply to markets in the Middle-East North African (MENA) region,' the paper quoted Vijay Subramaniam, chief executive of Marico international business group, as saying.
The facility will be in addition to the plants Marico has acquired through global buyouts in Egypt, South Africa and Bangladesh, the paper said.
The plans are in line with Marico's strategy of making Egypt the hub for expansion in the MENA region. Apart from being a reasonably strong growth market, consumer preferences in the region are similar to those in India. Egypt also happens to be among one of the largest hair oil market in the MENA region.
Marico has seven existing overseas manufacturing facilities, four of which are company-owned and three are through third-party tie-ups.
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