CAIRO: The German group BERICAP inaugurated its new cap factory in Egypt yesterday.
The group is a leading international manufacturer of plastic caps for a wide range of containers, including those for food, pharmaceutical and cosmetic products. It has production facilities in 16 countries, including the United States, the United Kingdom, Spain, China and Turkey.
It also has two factories in Poland and Hungary that produce the moulds for their caps.
The facility exports to 30 African and Arab countries. It represents an investment of LE 34 million, with a further LE 14 million planned for a second phase which will commence next year.
Confederation of Egyptian European Business Associations (CEEBA) Chairman Mahmoud El Kaissy says that the initiative serves as a model for manufacturing for re-export to the region, adding that such initiatives bring critical new technologies, modern management skills, high level training and access to regional markets.
Peter Goepfrich, chief executive officer of the German Arab Chamber of Commerce and Industry Chief, also explained that BERICAP s investment will have a profound impact on the quality of several export-oriented sectors in Egypt, improving the quality of the finished product and complying with the regulations of the export markets.
CEEBA promotes cooperation between its founding members, and this project is the first among a group of projects that the confederation is endorsing. In supporting such projects, the confederation seeks to make the most of the Euro-Mediterranean Partnership and Egypt s trade agreements with Europe, Arab countries and Africa. These include the Association Agreement with the European Union, the Greater Arab Free Trade Area and the Common Market for Eastern and Southern Africa.
CEEBA organized a number of matchmaking events in several European countries over the last year, bringing together government authorities, legislators, business leaders, financial institutions and donor agencies.
Goepfrich says that his chamber has also included in its work plan instruments for the modernizing of Egyptian industries, attracting foreign investment, promoting exports and developing human resources through participation in fairs, exhibitions and other events. The chamber also plans to carry out vocational and management training programs, bringing in German experts in various disciplines.
BERICAP was established in 1926 and has invested some 400 million euros in its global production facilities.