Over $78 million has been invested into the company's operations over the past 7 years

Plans are underway to invest an additional $46 million over the next 3-4 years

GM Egypt has a skilled workforce , which operates in line with global standards

The company directly employs more than 1900 people, and indirectly over 25,000 people at dealerships and supporting industries

Sharm El Sheikh, 15 March 2015

General Motors (GM) has continued to invest in its operations in Egypt as it firmly believes in the growth potential of the country, said Mario A. Spangenberg, President and Managing Director of GM Africa.  "Over the past seven years alone, we have invested over $78 million in our Egyptian operations and during the next four years we will invest a further $46 million in expanding our production operations, implementing new technologies and also introducing new models."

Speaking at the Egyptian Economic Development Conference (EEDC) on the topic "Egypt the Future", he was joined by HE Eng. Moneer Fakhry Abdel Nour, Egypt's Minister of Trade, Industry and Small and Medium enterprises. At the session, which was focused on the role of vocational training, Spangenberg praised the skills of Egyptian employees and their ongoing efforts to enhance their skills, in line with the company's global operational standards.

Spangenberg said that GM's participation in the conference should send a positive message to international investors that stability is returning to the country and with this confidence is returning in its economy. "The EEDC should serve as an important platform to retain and attract  foreign investment to Egypt."

"We continue to see opportunity to invest in and grow our business in Egypt. The government is focused on creating the right investment environment and there is also an abundance of skilled labour available," he emphasised. "The Egyptian workforce continue to amaze me with their can do attitude and ability to innovate and come up with out of the box solutions."

Spangenberg said that business should view the 90 million population of the country with its diversified needs as a catalyst to generating current and future demand for new products

He said that Egypt was well located to serve as an exports hub into North Africa. By way of example he said that GM Egypt had begun exporting buses to Saudi Arabia last year.

Other positive signals include the government's support programme which was geared at promoting the local assembly of vehicles, its planned investments in upgrading the infrastructure of the country and also the recent announcements around some key economic and political reforms.

"GM Egypt directly employs just over 1 900 people and our approach is underpinned by our philosophy that our employees form the backbone of our success and that is why we will continue to invest in further enhancing their skills," said Spangenberg.  "In line with this we provide comprehensive international training programmes to our employees and during 2014 alone over 24 500 training hours were clocked up, translating into an average of five training days per employee."

These training programmes have ranged from leadership development initiatives to subsidizing the costs for employees to pursue post graduate studies. There is also a lot of focus on increasing the percentage of women working at the company and these efforts were recently recognised  when GM Egypt won the AMCHAM Middle East and North Africa Excellence Award for being the  "Best Company For Women To Work For.

The company's impact can also be seen in downstream industries. "Additionally via our dealer partners and suppliers over 25 000 people are indirectly employed. In terms of technicians who work at dealer outlets, we provided the equivalent of three training days per technican," said Spangenberg.

Since the establishment of the GM Academy in 2007, over 170 technicians have received certified qualifications. The Academy's programme was developed in cooperation with one of the top Canadian universities blending a curriculum that produces "best in class" auto technicians who are proficient in key technical elements, as well as  problem solving,  language and other skills which will allow them to excel in servicing and repairing high-tech vehicles. The Academy is a joint initiative between GM, the Egypt Government through its Industrial Training Center and  GM's Egyptian  distributor, Al Mansour. All three parties have co-funded the running of the Academy with an investment of over $1.3 million to date.

Through a mix of web based and instructor based programmes, GM has kept employees at its 520 suppliers up to speed with the latest technology. "The level of automation used at suppliers has progressively developed, enabling these businesses to improve their overall quality and productivity levels. We now have a solid supply base in place which has been recognized by  international automotive manufacturers who have awarded business to some of these suppliers to export components to Europe," concluded Spangenberg.

-Ends- 

Foot notes

·         Established in 1983, GM Egypt was one of the largest manufacturers to set up production operations in the 6 October City region. 

·         The company manufactures and assembles cars for the Egyptian market and more recently began exporting buses to the Saudi Arabian market.

·         The company achieved a record production volume in 2014, assembling over 61 600 vehicles, which was 26% up versus 2013's volumes.  It sales numbers came in at over 70 000, cementing its leadership position in the market for over seven years in a row. 

·         The company has a 23% share of the market, achieved through its range of Chevrolet and Opel vehicles.

 

© Press Release 2015