Elsewedy Electrometer plans to invest USD3mn for expansion in Brazil
Elsewedy Electrometer Chairman & CEO Emad Elsewedy announced that his company is planning to invest USD3mn this year to expand in Brazil. He also stated that the Brazilian market has potential and will stand to benefit from the Egypt-Mercosur trade agreement (effective since Sep 2017). The company is a subsidiary of Elsewedy Electric and manufactures electricity, gas and water products, including smart meters, and exports to 46 countries. (Zawya)
Elsewedy Electric: EGP13.53 as of 23 Jun. 2019, Rating: Buy, TP: EGP23.00/share, MCap: USD1,775mn, SWDY EY/SWDY.CA
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