Mercedes-Benz Egypt to supply $47 million cars to China
China’s National Arts and Crafts Import/Export Corporation (CNART) has signed two purchase deals with Mercedes-Benz Egypt valued at $47.2 million, reported Xinhua. The first contract obliges the Chinese corporation to buy 250 of Benz’s newest 2003-car model by the end of 2002 while the second contract involves a 1,000-unit purchase for 2003.
Mercedes-Benz Egypt’s network of agents and dealers was set up in the 1980s. The company started manufacturing vehicles in 1997 with the setting up of its factory, at Sixth of October City, with its Egyptian partners, Egyptian German Automotive (EGA).
German auto-maker, Mercedes-Benz recorded a four percent rise in worldwide sales of passenger cars for the month of June, reaching 95,700 units compared to figures from the same month last year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
- Mike horn launches, pangaea, four-year global expedition in the presence of hsh prince albert of monaco to inspire young people to clean-up the plane
- Over 100 new exhibitors join Dubai International Boat Show’s 20th anniversary celebration
- Egypt signs key deal to assemble Chinese cars
- Not just wasted time: Cairo traffic is costing Egypt a significant percentage of its GDP
- Egypt’s textile industry on growth path after € 80 million EU funding; € 19.5 m being used for industry restructure