Simplex Industrial Solutions and Software, which specializes in manufacturing computer numerical control (CNC) machines, plans to establish a new factory for the production of CNC machines used in drilling work on metal and wood surfaces.
Ahmed Shaaban, CEO of Simplex, said that the company is currently preparing studies for the inauguration of the new factory in the 10th of Ramadan area, which will contribute to increasing the production capacity of Simplex by up to 100%.
He explained that the company is in talks with a number of banks to obtain credit facilities estimated at about EGP 40m for the new factory, which will be the largest of its kind in the Middle East.
The company is working according to a strategy based on expanding in the field of local manufacturing of CNC machines with the aim of meeting the needs of the local market and expanding externally by exporting to neighbouring countries during the next stage.
It is expected that the company has ambitious plans to expand the local manufacturing project to produce CNC machines in light of the localization of the local industry, as well as increasing its total sales during the coming period.
He pointed out that the company is interested in providing all technical support and maintenance services to companies and customers who buy CNC machines, in addition to training technicians on the latest equipment operating systems.
It is expected that the growth rates of the industrial sector will rise during the coming period, especially with the continuation of the support provided by the state to local producers, which is represented in the programs and financing facilities that enable them to increase the volume of their business in the local market.
He also said that the industrial field is qualified for local companies and manufacturers to expand and pump more investments into local manufacturing projects, especially with the increase in growth rates that the sector may witness during the coming period against the background of policies and projects implemented by countries in constructing new cities, which will contribute to an increase in demand for purchasing equipment and machinery used in operating work, including drilling on metal and wood surfaces.