Domti Egypt acquires the American bakery production line

Arab Food Industries (Domiti) has signed a contract to acquire a new bakery production line from AMF, an American company specializing in the manufacture of high-speed bakery equipment, with a capacity of production of 270,000 pieces per day.

The company said today in a statement to the Egyptian stock market that the cost of the production line with all its accessories was 50 million Egyptian pounds.

The company has identified ways to finance the purchase of the new production line, through a medium-term US dollar bank loan and self-financing of the company's resources, the amount to be paid in Egyptian pounds.

According to the statement, the new line is expected to be operational in February 2020. This is the third production company in the bakery products sector. It can be used in the production of domestic Sndots products as well as in the production of bread.

The company noted that this line of products was a new addition to the company's plan to expand its bakery and light food business, which is characterized by higher overall profit relative to the rest of the company's products.

It should be noted that Domati recorded a net profit of 28.84 million pounds in early January to the end of March 2019, against 40.44 million pounds for the same period in 2018.