Daimler's Mercedes-Benz to Set Up Egypt Assembly Plant
June 24 2019 - 9:34AM
Dow Jones News
By Nathan Allen
Daimler AG (DAI.XE) said Monday that its Mercedes-Benz brand has
signed a preliminary agreement with Egypt's government to set up a
vehicle-assembly plant in the country.
Mercedes-Benz will operate the plant with a local partner, the
company said.
"In view of the long-term market potential, further investments
are also conceivable," the company said, suggesting an expanded
dealer network or a logistics hub as potential developments.
Mercedes-Benz didn't provide details on the timeline of its
planned investment.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 24, 2019 09:19 ET (13:19 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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