Lecico to tap Egypt’s brassware market in JV

1 Min Read

Egyptian ceramics firm Lecico will build a brassware factory at a cost of LE 16.5 million ($3 million), of which it has already spent about three-quarters, it said in a statement on Wednesday.

The plant, a 70/30 joint venture with a family-owned group, will launch by mid-year and aims to bring in around LE 50 million a year within four years, the statement said.

“The taps market in Egypt is estimated at over 4 million pieces and we also see a great potential for brassware exports,” Chairman and Chief Executive Officer Gilbert Gargour said in the statement.

Share This Article
By Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.
Leave a comment