Daimler's Mercedes-Benz to Set Up Egypt Assembly Plant

Date : 06/24/2019 @ 2:34PM
Source : Dow Jones News
Stock : Daimler (PC) (DMLRY)
Quote : 13.04  0.05 (0.38%) @ 9:56PM

Daimler's Mercedes-Benz to Set Up Egypt Assembly Plant

Daimler AG (USOTC:DMLRY)
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   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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