Egypt’s leading carpet manufacturer Oriental Weavers (OW) will be making a new expansion worth €1 million to its factory in the United States, said Investors Relations Manager Ingy El Diwany.
In a statement to Amwal Al Ghad on Thursday, El Diwany stated that OW’s new expansion includes adding a new cutting-edge machine to manufacture looms. The new machine is expected to increase the production capacity of OW’s factory.
OW has pumped investments totalling EGP 14 million in the Egyptian market during the first quarter, out of total targeted investments worth EGP 80 million within the current year, she added.
Furthermore, El Diwany revealed that Oriental Weavers’ investment strategy includes increasing its presence in the Egyptian market through the launch of 40 new branches nationwide within two years. OW (ORWE.CA) has around 230 various branches across Egypt.