ICEC

Egyptian paints producer MIDO eyes sales of $113mn by end-2016

Egypt’s International Group for Modern Coating -MIDO targets achieving sales volume estimated at one billion Egyptian pounds (US$ 112.6 million) by the end of 2016, Chief Financial Officer Ahmed Fathy said Tuesday.

Speaking to Amwal Al Ghad , the official stated that the total volume of MIDO’s sales in 2015 reached around 690 million pounds.

MIDO has seized 66 percent of the total sales of the Egyptian paints market with sales estimated at around 460 million pounds in 2015. Meanwhile, company’s total sales outside Egypt were estimated at around 230 million pounds.

MIDO is an Egyptian leading company for high quality Paints and Coating products for multi purposes. It develops, produces, and distributes specialized chemical products for many areas of application in the automotive, decorative paints, wood coatings, printing inks, and other different industrial products.

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