Denmark’s Danfoss eyes 30% growth in Egypt turnovers next year

Danish industrial group Danfoss seeks to boost its turnovers in Egypt by 20-30 percent within 2020, its regional head told Amwal Al Ghad on Sunday.

The company has established its presence in Egypt since 1979, generating annual turnovers between $10 million and $15 million, said Ziad Al Bawaliz, regional president for Turkey, Middle East, and Africa (TMA).

Egypt has been Danfoss’ third biggest market in the Middle East and Africa in 2018, Al Bawaliz said, adding he hopes the country would rank first or at least second this year.

The company wants to extend its focus on its presence in Egypt given the government’s ambitious plan to build 20 new smart sustainable cities, including the new administrative capital, he said.

Ziad Al Bawaliz, Danfoss’ regional president for Turkey, Middle East, and Africa (TMA), speaks at a conference in Cairo, co-organised by the Embassy of Denmark in Egypt on Tuesday, December 10, 2019.