US economy slows to 1.6% in Q1 of '24 – BEA    EMX appoints Al-Jarawi as deputy chairman    Mexico's inflation exceeds expectations in 1st half of April    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



MTI signs distribution agreement with world's 2nd largest producer of household appliances
Sales planned to begin February 2018, expected to add over EGP 200m to 2018 company revenues
Elsayed Solyman Published in Daily News Egypt on 16 - 01 - 2018

MM Group for industry and International Trade (MTI) announced on Tuesday that it has signed a distribution agreement with BSH Hausgeräte, Europe's innovation leader and the world's second largest producer of household appliances.
Sales are planned to start during February 2018 and are expected to add in excess of EGP 200m to the company's 2018 revenues.
"The free trade agreement between Egypt and Europe will allow us to offer the Bosch brand to the market at competitive prices compared to other brands in the market. MTI aims to reach a wider consumer base through delivering an overall premium consumer experience in Egypt," said Khaled Mahmoud, chairperson and CEO of MTI, on the sidelines of a conference on Tuesday.
"I believe this cooperation will broaden our product offerings and will increase our market share in the household appliances market. We hope to further strengthen this cooperation in the future," he added.
Norbert Klein, BSH executive vice president for Turkey, the Middle East, Africa, and the Commonwealth of Independent States, said, "BSH believes that this strategic step with such a reputable organisation as MTI with its 40,000+ sales points will further add to our constantly increasing market share in Egypt."
Replying to a question by Daily News Egypt about the ability to build a facility in Egypt to produce their products, he said, "all options are on the table, including building a factory in Egypt."
"This partnership will undoubtedly help us improve our presence in the Egyptian market".
BSH annual sales worldwide stood at €13.1bn in 2016, according to its website.
MTI is an Egyptian joint-stock company listed on the EGX. Its operations include consumer electronics, telecommunications, and automotives.

Clic here to read the story from its source.