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Beyti completes expansion plans, aims to increase exports to $25m - Daily News Egypt

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Beyti completes expansion plans, aims to increase exports to $25m

EGP 3.5bn company sales last year: Yassin


Beyti Egypt aims to take its exports in 2020 to $25m, compared to about $21m in 2019, while it recorded EGP 3.5bn in total sales in 2019, compared to EGP 2.9bn in 2018.

Zakaria Yassin, manager of export at Beyti, said that the company exports its product to about 22 countries, while aiming to increase exports to African and European countries during the coming period. It looks to introduce its product to new countries, and expand in existing markets.

The company plans to introduce its products to 10 to 15 countries during the coming period, led by North America, Europe, and China.

The company increased its production capacity for export by 20-25%, coinciding with the opening of its new production lines, he pointed out. The number of new lines is seven, with a total investment of 12m, which is part of the expansion plan of the company that started three years ago.

Yassin explained that the export volume records about 13% of the company’s production volume, and it seeks to increase its exports annually, after it raised its exports to $25m in 2018, including $8m in dairy products, and $17m of juice exports, compared to $7m in 2017. This is considered a boom in the company’s exports.

He said the Libyan market had a major role in increasing the company’s exports during the last period. Mauritanian market is also prominent one, as the company ranks second in Mauritania in milk after German producer La Rose.

The African market is an untapped gold mine, and it should be well-utilised during the coming period to enter and benefit from more trade agreements, he explained.

The company has 18 foreign markets, the most important of which are Palestine, Mauritania, Ethiopia, Libya, some Arab countries, Germany, and Greece.

The company’s total sales record about $3.5bn in 2019, compared to about EGP 2.9bn in 2018, he pointed out, and seeks to increase this number in 2020 by spreading further in the country, reaching remote villages.

The company is seeking an increase ranging 30-40% in its sales in the local market, in addition to targeting 10 -12% rise in exports.

He explained that the local market is a promising market for juices and dairy products, especially in light of its population density, and the increasing demand for the company’s products, by increasing the volume of production and adding new types.

Topics: Beyti Exports

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https://dailyfeed.dailynewsegypt.com/2020/03/17/beyti-completes-expansion-plans-aims-to-increase-exports-to-25m/
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