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 at a cost of EGP 50 million.
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.
During the first quarter of 2019, Domty’s net profits dropped to EGP 28.84 million from EGP 40.44 million in the year-ago period.