NorAH acquires 50% stake of Kandil Glass

KUWAIT-based investment company, North Africa Holding Company (www.northafricaholding.com), has acquired a 50% stake in Kandil Glass (http://kandilglass.com), one of Egypt's leading manufacturers of glass containers. The investment, NorAH's first investment in Egypt, will allow Kandil to finance the construction of a new production facility. "We believe that Kandil Glass, with its ability to customise its offer to market demand and its technical capabilities, has excellent possibilities for growth in the future. We chose to invest in Kandil Glass because of the outstanding quality of its management," commented NorAH chief executive officer Emad Al-Saleh, referring to the Kandil family, whose successful entrepreneurial history started over 140 years ago. Kandil Glass' development plan aims to make it a market leader in the glass-manufacturing sector for the food and beverage industries, serving both local and international markets with high quality glass containers. Production capacity is currently at 55 tons per day whilst the major expansion will raise it to over 300 tons per day.Nike Air Max