AL Sharif Plastic eyes 12.3% rise in sales late 2015

Al Amal Company for plastic Pipes and Fittings (Al Sharif) targets boosting sales volume in local market by 12.3 percent, CEO Abd El-Aziz El-Shafai said Tuesday.

Speaking to Amwal Al Ghad, CEO El-Shafai stated that the company aims at increasing the sales volume to one billion Egyptian pounds (US$127.7 million) opposed to what had been achieved in 2014.

Over the past 15 years, Al Sharif Company has raised its volume of production eight times; therefore its sales volume rose from 70 million pounds in 2000 to 890 million pounds in 2014, the CEO clarified.

He noted that Al Sharif Company’s current investments are estimated at 500 million pounds compared to 40 million pounds since inception.

The capacity of company’s factory of pipes reached around 70,000 tonnes and 12,000 of fittings annually.

El-Shafai further stated that company’s exports have been jumped from US$1 billion in 2002 to around US$45 million in 2014.

Moreover, the CEO expected firm’s exports to decline 15 percent at the end of 2015 to record around US$40 million.