Breaking News

Nonwovens Line Set For Egypt

July 7, 2005

A joint venture between a Chinese company and an Egyptian firm will begin construction on a nonwoven fabric facility, worth $12.5 million in the Free Trade Zone, west of the Gulf of Suez, 130 kilometers east of Cairo. Called Egypt CTMC Nonwovens Co. Ltd, the new company, reportedly Egypt's largest nonwovens producer, will employ more than 900 people. A reported 70% of ist total output will be exported to Europe, the U.S. and the Middle East.

China Textile Machinery (Group) Co. Ltd (CTMC), a state-owned group of enterprises, which has diversified interests in multiple management, manufacturing and marketing has provided funding for the project.

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