Mohamed Abdalla, Chairman and Managing Director of Misr Edfu Paper Company, affiliated with the Holding Company for Food Industries (HCFI) – a state-owned Egyptian joint stock company – confirmed that it has no intention of leasing or selling any of its factories.
In an exclusive statement, Abdalla revealed that the company did not receive any offers officially from Arab investors or through an Emirati investment alliance in this regard.
Abdalla confirmed that the company aims to produce 4500 tons of printing paper, 5800 tons of bleached kraft paper, 2000 tons of Formica, and 5000 tons of kraft paper, besides brown cardboard and paper bags.
For the coming period, the company targets to export 10,300 tons of a variety of papers and paper products to Saudi Arabia, Syria, and a number of European countries, giving it the distinction as the only company in Egypt that manufactures all types of paper that are completely imported from abroad. These include 3000 tons of paperboard, 5000 tons of brown and white kraft paper, 1000 tons of printing paper, and 1300 tons of cup-making paper.
Misr Edfu produces printing and kraft paper through bagasse pulp and imported wood pulp, with the addition of other chemicals, through its two factories.
The company’s FY2022-23 plan is to increase the volume of production and acquire a larger percentage of the local market, in addition to raising export rates in line with the aims of the HCFI for increasing the profits of its subsidiaries.
Misr Edfu aims to produce 60,000 tons of printing and kraft paper by the end of 2022, an estimated increase of 20,000 tons over last year.
