Minister of Military Production Mohamed Al-Assar, deputy minister Hassan Abdel Mageed, and chairperson of Paints and Chemical Industries Company (Pachin) Mahmoud Abdel Hakim Al-Refaay witnessed the signing of a cooperation protocol between Heliopolis Company for Chemical Industries (owned by the Military Production Ministry) and Pachin.
The protocol aims to achieve an integration of financial and human resources for each of the two companies in production, research, development, quality, purchases, sales, and marketing.
Al-Assar said that both companies must benefit from the human resources and industrial potential in the field of research and product development in order to deepen the industry and benefit the economy of the country.
He added that the economic conditions experienced by Egypt must motivate the need for industrial integration between different economic institutions in the state.
He also stressed the need to develop joint products between the two companies and create opportunities for export.
He pointed out that the ministry had conducted previous partnerships with the private sector in many projects, which achieved significant economic returns to the state.
The protocol signed by Mamdouh Mohamed Badawi, chairperson and managing director of Heliopolis Company, and Mohi Abdel Razek, managing director of Pachin, aims to introduce new products and distinct containers, made especially for the implementation of national projects (housing, roads, bridges, tunnels, power plants, water purification plants, sewage treatment plants, factories, and the Suez Canal development projects, etc.).