Czech Pegas to open unit in Egypt

Czech synthetic textiles maker Pegas Nonwovens (PGSNsp.PR: Quote) struck a deal with a major customer allowing it to go ahead with its plans to build a new production line in Egypt, the company said on Tuesday.

The new production line in Egypt is expected to produce 20,000 tonnes of textiles a year and should be launched in the second half of 2013.

The agreement should be signed within two weeks, Pegas said, without giving any details of the new customer.

It only said the client will take nonwoven textiles from the new Egypt production line to supply its own plants in the Middle East.