ArabFinance: Rubex International Company for Plastic and Acrylic Manufacturing plans to expand through its subsidiaries and to join new activities to maximize its exports and open new export markets, Chairman Magdy Mukhtar El-Taher told Al Borsa News on April 6th.

El-Taher added that the company eyes raising its factories to 20, noting that the company delayed part of its plan on the back of the COVID-19 pandemic.

He further noted that the company plans to set up two plants in 2021, and two more in 2022.

The company will finance the new plants with 50% of total investments, and banks and partners will finance the remaining 50%.

Rubexs sales reached EGP 175 million in 2020, and exports accounted 20% of total sales.

The company eyes raising its exports to 30% of total sales, and raising its sales to EGP 300 million in 2021.

The acrylic manufacturer plans to open export markets in Gulf countries, Cyprus, Greece, Algeria and Europe.

Rubex International Company for Plastic and Acrylic Manufacturing SAE, established in 1987, produces all kinds of plastic products and acrylic sheets, as well as bathroom sets from bathtubs, shoer trays, and basins.

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