Toshiba targeting African market with new manufacturing plant in Egypt
Japanese electronics group Toshiba Corporation is aggressively targeting the African market with its range of TV models.
Toshiba has announced 10 new TV models, covering both LED and LCD technologies, for the Africa and Middle East markets.
Toshiba and the El Araby Group, an Egyptian manufacturer and reseller of audio visual and home appliances, today signed a joint memorandum that marks the start of cooperation in manufacturing LCD TVs in Egypt.
The companies’ current partnership includes technical collaboration in home appliances and distribution of Toshiba-branded consumer products in Egypt and other countries. Their sales and marketing joint venture, Toshiba El Araby Home Appliances Marketing Company, mainly exports Toshiba’s home appliances, including refrigerators and washing machines, from Egypt to African countries.
El Araby and Toshiba entered into a new agreement in December last year, under which they will establish a joint venture (JV) to manufacture LCD TVs in Egypt – a JV that is expected to become one of the largest LCD TV manufacturing plants in Africa and the Middle East.
The new plant will have an initial production capacity of 600,000 units a year, mainly 24 and 32-inch models, and an initial workforce of about 300. As sales grow, the plant’s capacity will be increased, up to 2,000,000 units a year in 2013.
“El Araby Group has established a solid market presence by marketing and supplying leading global brands to our valued customers in Egypt and neighbouring countries,” said Mr. Mahmoud El Araby, chairman of El Araby group. “Throughout this, Toshiba has been and will continue to be by far the most important of our partners and we have worked closely with Toshiba in building up our reputation for quality products. We are confident that this reinforced partnership with Toshiba will further elevate our capabilities to supply quality products that truly respond to the voices of customers in our markets.”