Arab Finance: Unionaire Home Appliances Group intends to pump investments worth $500 million into the local market next year, up from $300 million this year, according to what was reported by Eqtisad Al-Sharq.
The company also plans to produce 1.2 million stoves and one million refrigerators annually during the next three years. The company is also focusing on expanding the production of devices that operate with artificial intelligence, and making all its locally produced products digital and energy-efficient.
It plans to raise the percentage of local content to 90% within three years, up from the current percentage of the local content of 75%.
Unionaire, which operates 16 factories in Egypt, is currently developing an industrial park dedicated to manufacturing household appliances exclusively for export, which will support the group's efforts to expand its presence in Europe, starting with England where it plans to establish a dedicated marketing and export subsidiary.
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