Algeria's Condor Enters Egyptian Market, Plans Local Manufacturing

(MENAFN- Daily News Egypt) Algeria's Condor Group has officially launched its brand in the Egyptian market, marking a new phase in its regional expansion strategy focused on investment, partnerships, and local manufacturing, rather than exports alone.

The announcement was made during a high-level event attended by Algerian parliamentary and diplomatic officials, alongside industry stakeholders, distributors, and business leaders from Egypt's air-conditioning sector.

Speaking at the event, Mohamed Saleh Daas, Vice Chairperson of Condor Group, said Egypt represents a strategic market for the company's long-term growth plans. He explained that the group views Egypt not only as a major consumer market but also as a regional hub and gateway to broader Middle Eastern and African markets.

Daas added that Condor signed several distribution and partnership agreements during the launch, laying the foundation for a sustainable presence in Egypt. He highlighted that the company's strategy in the country rests on three pillars: building a competitive and reliable brand, strengthening after-sales services, and investing in local manufacturing.

As part of its industrial plans, Condor intends to establish a manufacturing base in Egypt, targeting local production of televisions, refrigerators, and air conditioners. The move is expected to support local industry, create jobs, and transfer technical expertise. Condor aims to begin local manufacturing in Egypt by 2027, leveraging logistical proximity between the two countries.

Condor Group operates 32 companies across 12 industrial sectors, employing more than 17,000 people. The group records annual revenues exceeding $1.5 billion and accounts for nearly 50% of Algeria's exports of household electrical and electronic appliances, with operations in 17 international markets.

The group also recently launched Africa's largest air-conditioning manufacturing facility in partnership with Hisense, with an annual production capacity of two million units. This facility is part of a broader five-year investment plan valued at $1 billion, aimed at expanding global capacity to 10 million units annually and entering 35 international markets.

Commenting on the Egyptian launch, Ayman Sami, CEO of Condor Egypt, said the company aims to introduce products that meet international efficiency standards while remaining competitively priced. Ahmed Abdel Moneim, Commercial Director of Condor AC Egypt, added that the air-conditioning units offered in Egypt are Eurovent-certified and designed to operate efficiently under varying power conditions.

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