Jan 27 2011
Egypt-based manufacturer of home and audio visual solutions, El Araby Group has entered into a joint agreement with Japanese electronics group, Toshiba for the manufacture of LCD TVs.
Under the terms of the agreement, both companies will establish a joint venture to produce Toshiba LCD televisions in the Middle East, North America and Egypt.
Currently, the JV, named as Toshiba El Araby Visual Products, is under construction with the manufacturing of LCD TVs scheduled to begin in March 2011. The manufacturing facility will handle operations such as the manufacture of finished products and LCD panel module assembly. In addition, the plant will have a starting annual manufacturing capacity of 600,000 units with the focus on 32 and 24" LCD models.
Toshiba is planning to enhance sales and is channeling resources in the regions of Africa and the Middle East. In addition, the company plans to accomplish a 15% market share in the area by the fiscal year 2011. Both companies expect to contribute in the progress of Egypt’s LCD TV market and promote employment within the electronics sector through this collaboration.