Egyptian bakery equipment firm Morcos has faced financial difficulties amid political unrest in its home market, but an investment strategy saw it prosper against the odds, its purchasing manager says.
Michael Morcos told BakeryandSnacks.com that while the political unrest in Egypt had, of course, hit finances, the company had invested its way out of difficulty.
“We made a strategy for not cutting our costs or reducing anything that would affect our customers worldwide. So, we started to invest even more in presentations and in exhibitions throughout the world, and it paid off,” he said, speaking with us at Interpack 2014 in Düsseldorf, Germany, earlier this month.
He said the company’s strategy was important as it ensured trust among customers worldwide.
Even during the hardest times, when curfews governed Egypt, he said the company worked earlier to ensure orders were met and honored.
Middle East, Egypt ‘open’ to bakery innovation
Morcos said that the Middle East region, Egypt in particular, held huge promise for the bakery sector because consumers in these markets were open to trying new products.
In addition, Egypt’s population and eating habits meant that biscuits, wafers and chocolate products did extremely well.
He said that now Morcos was stable again, it would focus its attention on growing its presence in Southeast Asia and Europe further.