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The company aims to boost its annual production capacity from 25mln to 28mln pieces upon completion of the factories
Egypt - Giza Spinning and Weaving is planning to establish five new factories over the next five years, with an investment of $15 million, Chairman Fadel Marzouk told Al Borsa News.
Marzouk revealed that the expansion will focus on dyeing, spinning, and weaving facilities in Upper Egypt, with one factory scheduled to launch each year starting in 2025.
The company aims to boost its annual production capacity from 25 million to 28 million pieces upon completion of the factories.
Marzouk projects this growth will drive a 20% increase in sales in 2025, compared to the EGP 5.4 billion achieved in 2024.
A key part of the company’s strategy includes increasing exports to the US under the Qualified Industrial Zones (QIZ) agreement, where the US market already accounts for 60% of production.
Efforts are also underway to expand market share in Europe, Arab countries, and Brazil.
Giza Spinning and Weaving’s export revenues reached $150 million during the first 11 months of 2024, the Chairman noted.
Marzouk expects exports to grow by at least 10% next year, supported by higher production levels.
Established in 1979 by Mohamed Marzouk, Giza Spinning and Weaving is a family-owned business and one of Egypts largest exporters of ready-made garments. It ranks among the top exporters of yarn and garments in both volume and value.
In 2022, the company undertook a comprehensive restructuring to prepare for a potential stock market listing, intended to support its expansion goals. |
