Cairo – Mubasher: Arabian Food Industries Company (Domty) signed two contracts with US bakery equipment manufacturer AMF to supply the fourth bakery production line and the first production line for croissants with total investments of EUR 2.5 million. 

The company is considering entering the croissant and pie market, besides its sandwich products, the Managing Director, Mohamed El-Damaty, said in a bourse disclosure on Tuesday. 

The new production lines are expected to start operations by mid-2022. They will be financed through the company's own resources or through a banking loan, El-Damaty noted. 

The company managed to overcome the challenges it faced in the first half (H1) of 2021 and is currently working at 90% of its capacity, he added. 

Domty is currently negotiating with Tetra Pak to expand the capacity of the juice factory and a new agreement is expected to be reached soon, he pointed out. 

During the first quarter (Q1) of 2021, Domty incurred consolidated net losses of EGP 3.43 million, against a net profit of EGP 32.09 million in Q1-20, including minority shareholders' rights.