Edita Morocco Inauguration
Source: RNS
April 4th, 2022
EDITA Food Industries (EFID CA and the London Stock Exchange EFID.L) - the leader of snacks industry in Egypt, officially inaugurated the Company's manufacturing facility in Morocco in the presence of his Excellency the Moroccan Minister of Industry and Trade - Mr. Riad Mazour. The actual operations in the manufacturing facility commenced in December 2021.
During the Ceremony, Edita Food Industries - Morocco signed a Cooperation Protocol with the Moroccan Ministry of Industry and Trade, where the company plans to increase its investment in Morocco by approximately MAD 170 million. The Board of Directors of Edita Morocco also agreed to increase its capital to MAD 100 million and to purchase a new production line for the manufacturing of cake from Edita Egypt. The Ceremony was attended by his Excellency the Minister of Industry & Trade, the Egyptian Ambassador in Morocco Mr. Yasser Othman and Eng. Hani Berzi, Chairman of Edita Food Industries Egypt, and group of senior state officials as well as members of the Board of Directors of Edita Food Industries in Egypt and Morocco and Dislog Group
It is worth noting that Edita Group will continue to own about 76% of Edita Food Industries Morocco, while Dislog Group owns about 20%.
Menna Allah Shams ElDin
Head of Investor Relations
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