Introduction
Signify, formerly known as Philips Lighting and a global leader in lighting, has entered into a joint venture with GILA Al Tawakol Electric, a prominent Egyptian manufacturer and distributor of electrical solutions. This collaboration aims to establish "Signify GILA Lighting Technologies," a regional manufacturing hub in Egypt dedicated to producing advanced LED lighting solutions.
High-Level Endorsement and Strategic Discussions
The joint venture was discussed in a high-profile meeting attended by Egypt's Prime Minister Mostafa Madbouly. Key representatives from both companies were present, including Mohamed Saad, CEO of Signify Africa, Mokhles Tawakol, CEO of GILA Al Tawakol Electric, and Sherif Abdel Fatah, Chairman of the Board of Directors of GILA Al Tawakol Electric. Also in attendance were Eng. Ahmed Samir, Minister of Trade and Industry, and Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). The discussions focused on the preparations for an advanced lighting technology factory in Egypt.
Establishing a Regional Manufacturing Hub
The new manufacturing facility in Egypt will benefit from substantial foreign direct investments and serve as a regional hub, capitalizing on Egypt's robust manufacturing capabilities and strategic location. This initiative aligns with Egypt’s vision for industrial localization and export promotion. The project aims to expand and diversify Signify’s manufacturing footprint in Egypt and the broader region, extending the company’s reach to Europe, Africa, and the Middle East.
Commitment to Quality and Service
Mokhles Tawakol, CEO of GILA Al Tawakol Electric, expressed enthusiasm about the venture, stating, “We are pleased to launch our new venture with Signify, a company that mirrors our unwavering commitment to the highest standards of quality and service.” This sentiment was echoed by Mohamed Saad, President of Signify Africa, who highlighted the benefits of partnering with a strong regional player known for its manufacturing expertise, robust supply network, and industry knowledge.
Enhancing Customer Solutions and Efficiency
"Our collaboration marks a significant stride toward realizing the region's ambitious growth and expansion goals. It underscores our commitment to meeting customer expectations by offering new and diverse lighting solutions with advanced technology, high efficiency, and energy-saving capabilities," added Saad. The venture aims to leverage the strengths of both companies to deliver innovative and efficient lighting solutions.
Government Support and Project Streamlining
Sherif Abdel Fatah, Chairman of the Board of Directors of GILA Al Tawakol Electric, noted that the meeting with the Prime Minister was beneficial in streamlining project completion procedures. Investors were reassured of the government's support for the private sector, which is expected to encourage increased industrialization across various sectors in Egypt.
Sustainable and Efficient Production
Ramy Tawakol, Business Development Director of GILA Al Tawakol Electric, emphasized the strategic benefits of the new site in Egypt. “The newly established site in Egypt will offer a sustainable product, leveraging its strategic location for efficient delivery to customers across Africa, the Middle East, and Europe.” Amr el Naggar, Project Manager at Signify, added, “Our goal is to aggressively expand and elevate the industrial sector in Egypt through a highly integrated manufacturing facility providing quality products, innovation, and efficiency by capitalizing on skilled talent and the strategic location.”
