Arabian Food Industries Co (Domty) announced signing an agreement with US-based manufacturer of high-speed commercial bakery equipment AMF Bakery Systems to purchase and install a new bakery line for EGP 50m.
The new line will be partly financed through a US dollar medium-term banking loan, while the remaining amount will be self-financed from the company’s resources in the Egyptian pound, Domty said in a statement to the Egyptian Exchange (EGX) on Sunday.
The production capacity of the new line will be 270,000 pieces a day, the statement added.
Scheduled to start operation in February 2020, the new line will be Domty’s third bakery production line.
The company said in a statement that it is possible to use the new line in the production of domty sandwich and also in the production of bread.
The statement added that the pipeline is a new addition to the company’s plan to expand its bakery and light food sector, which is characterized by a higher overall profit compared to the rest of the company’s products
During the first quarter of 2019, Domty’s net profits dropped to EGP 28.84m from EGP 40.44m in the year-ago.