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Domty signs contract to acquire, install new bakery line with AMF - Daily News Egypt

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Domty signs contract to acquire, install new bakery line with AMF

New line's cost is $4m; double production capacity


Domty announced on Monday in a press statement, that it signed a contract last week to acquire and install a new bakery line with AMF, which is a US company considered to be one of the world manufacturers of high-speed bakery equipment.

According to Domty, the production capacity of the new line is 400,000 pieces per day—double the current capacity.

Meanwhile, the cost of the new line is $4m, and the source of the funds are the remaining cash proceeds resulting from the capital increase which took place after the IPO, in addition to Domty’ retained earnings, with the line expenses to be paid throughout the year.

The line is expected to start operating in September 2019, and it will be able to produce various types of baked goods in addition to the Domty sandwich.

The company also signed a memorandum of cooperation with AMF to benefit from its expertise in the introduction of new products in the field of baked goods in the Egyptian market.

Notably, Domty’s baked goods are characterised by a higher gross profit margin compared to the rest of the company’s products.

Topics: Domty

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https://dailyfeed.dailynewsegypt.com/2018/12/10/domty-signs-contract-to-acquire-install-new-bakery-line-with-amf/
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