Cotton and Textile Industries Holding Company of Egypt has signed a deal with Marzoli to update some of its plants with new technologies in order to become globally competitive
Marzoli, a leading manufacturer of machines for spinning of short staple fiber, is now part of a project to modernise some of the plants owned by the Cotton and Textile Industries Holding Company in order to increase their competitiveness and global success. The meeting that laid the groundwork for this collaboration between Marzoli and the Cotton and Textile Industry Holding Company was held at Cairo on April 15, 2019 in the presence of Abdel Fattah As-Sisi, President, Arab Republic of Egypt. The agreement was signed during ITMA 2019, the exhibition for textile and garment technology, by Dr. Ahmed Moustafa Mohamed, Chairman, Cotton and Textile Industries Holding Company and Cristian Locatelli, General Manager, Marzoli.
Marzoli was able to fit into this ambitious project because of its ability to provide high-performance solutions and knowhow and the confidence earned through important projects with leading Egyptian textile companies such as DNM Textile for Spinning, Weaving and Dyeing, Egypt Indigo Textile, Elzahra Elbaydaa, Gaid Cotton, Giza Spinning, Al Baraka Group for Spinning and Weaving, Skytex Spinning, and United Group for Spinning, Weaving and Dyeing. This collaboration is an important phase of Marzoli’s commitment plan to the Egyptian textile industry, whose next step is going to be the opening, by the end of 2019, of a branch in Cairo.
The local presence will enable Marzoli to better serve in an effective and timely way its customers and underpin their performance. This choice is the result of a careful analysis of the political and commercial dynamics and the awareness that Egypt will play a major role in the high-quality textile and cotton industry. In fact, the reforms and policy measures undertaken in the last few years have made the textile and cotton segment the second-biggest industrial sector in Egypt. The industry today represents 25% of the country’s overall exports and Egypt is internationally recognised as a leading international textile hub. Moreover, the strategic position of the country has allowed it to develop and maintain strong relationships in three directions.
These directions comprise:
• African Continent: Egypt is the first African country to attract investments: last year, 42% of global investment in Africa went to Egypt, amounting to USD 7.4 billion.
• Europe: This represents the main commercial partner for Egypt. Italy, in particular, is among the top five suppliers of Egypt, and last year made investments amounting to Euro 3.93 billion. • USA: Egypt is closer to the US than its counterparts, which makes it a preferred sourcing location.
