GlassWorks is Qalaa Holdings’ platform for glass investments in the Middle East and Africa. With a focus on container glass, this investment capitalizes on North Africa’s lower energy costs, abundance of raw materials and intensive labor supply – in addition to the growing global demand for container and float glass.
GlassWorks currently owns a 31.8% stake in Misr Glass Manufacturing S.A.E. (MGM), a leading manufacturer and exporter of glass containers in the Middle East and North Africa.
GlassWorks’ subsidiary will supply both the domestic and export markets for container glass. With a manufacturing base in Egypt and a geographic location that easily supports exports, the company is perfectly suited to become one of the region’s largest producers and exporters of glass products.
MGM holds a 35% share of the container glass market in Egypt. The company’s manufacturing facility is based in Mostorod, near Cairo, and has a current production capacity of 115,000 tons per annum. MGM’s subsidiary United Glass Company’s (UGC) new state-of-the-art plant will add 200,000 tons per annum to MGM’s overall productive capacity; however, plans for expansion are currently on hold. Additionally, UGC’s ampoule factory is currently producing 170 million ampoules per annum.