MassFood Eyes to Pump EGP 150 mln Investments in Egyptian Market

MassFood Co. is planning to pump EGP 150 million investments in the Egyptian market within 2014.

Alaa Al-Bahey , Chairman and CEO of MassFood, said in an exclusive to Amwal Al Ghad that the company has been pumped EGP 20 million within the last period in order to update industries technologies and to establish new production lines.

Al-Bahey has emphasized that it is scheduled to pump EGP 150 million within the current year but the political and security have suspended the progress.

Al-Bahey has pointed out that MassFood is seizing 95% from the total products of tourist hotels and resorts, 70% from Egypt Market Share as 500 employees and engineers worked in these resorts.

Al-Bahey added that his company is aiming to increase its exports in the African and American market, as it is exported its products to 52 countries across the world, noting that the most popular product in the company is ‘Corn flakes’ which is the first company exporting the product across the world, and especially to Japan.