MTI holding inaugurated its first laundry assembly line for Whirlpool top loaders in Egypt. The plant, located in Mostorod, Kaliobeya will host Whirlpool's first assembly line in the Middle East and North Africa region. The inauguration was attended by representatives from Whirlpool Corporation and MTI Holding at the presence of esteemed media members from Egypt, who had the opportunity to tour the factory and learn about the Whirlpool's top-loaders assembly process. The launch of the top loader assembly line marks a strategic development in Whirlpool plans for expansion of its laundry and other business lines in Egypt. Currently, the total demand for top loaders in Egypt is estimated at approximately 400-500 thousand units annually. The plant is expected to produce nearly 25,000 units in its first year of operation with further expansion in output expected in 2020. The line, which will cater to demand from Egypt, is expected to create several employment opportunities within the local community. "We are thrilled to inaugurate today our Washing Machine line dedicated to Whirlpool top loaders.We started this project together with Whirlpoolin 2016 with basic assemblyoperations and today we further expanded the operations with CKD operation &components localization. We are confident of further expanding our capacity in the future. We look forward to use this platform to explore the export opportunities in the region. This is the first of its kind assembly line not only in Egypt and also the region and we look forward to seeing it succeed in the years to come" said Ashraf Omran, Managing Director and CEO of MTI Holding. Mohammad El Yassir, Regional Managing Director, MEA, Whirlpool Corporation commented, "Whirlpool has always been a believer in the Egyptian growth story and the Country's vast talent pool together with its expanding market has presented an enormous opportunity for us. We have now taken our commitment further by investing in a local assembly line, which will not only allow us to serve our Egyptian consumers but also deepen our investment in the country's manufacturing sector. We are confident that through this partnership with MTI, we will consolidate our leading position in the country's home appliances market and further expand our suite and product offering in Egypt." The opening of the new production assembly line supports the Egyptian government's vision to boost the manufacturing sector and attract foreign investment in the country through free-trade agreements and policy incentives.
