Savio signed the largest contract of the Egyptian C.T.I.H.C regaining its historical stature of the Egyptian Textiles Industry.

On June 24th 2019 Savio has signed the largest contract with the Egyptian Cotton & Textile Industries Holding Company C.T.I.H.C, Cairo (Egypt), at the ITMA Barcelona 2019.

Dr.Ahmed Moustafa, Chairman of the C.T.I.H.C, signed the contract at ITMA Exhibition events with Mr. Massimo Giussani, Savio CEO.

Contracts were awarded for the first phase of the modernization program to seven textile machinery suppliers: Savio, Rieter, Marzoli, Benninger (including Thies and Brückner), EFI Reggiani, Itema and Karl Mayer.

These seven projects worth approximately 1 Billion €. This order is part of a comprehensive modernization program of the Egyptian textile industry. The order intakes are anticipated to be realized in 2019 with sales posted in the 2020/2021 financial years.

Cotton and Textile Industries Holding Company C.T.I.H.C launched the implementation of a major modernization program at ITMA Barcelona. The program, supported by the president of Egypt, Abdul Fatah Al-Sisi, and Minister of Public Enterprises, Dr.Hisham Tawfik, aims to upgrade Egypt’s upstream textile industry to support its competitiveness to become a major regional sourcing hub in the Mediterranean region.

The program includes the modernization of spinning, weaving, knitting, dyeing, finishing, printing and confection, based on a product line definition “Supply Chain” which brings forth added value to the Egyptian cotton known as the “White Gold”, from cotton seed to ready-made goods with world-class levels in terms of quality and efficiency - aiming to support Egypt’s Private Sector upstream manufacturers in the world markets affecting Egypt’s vertical integration and competitiveness.

The total value of the program is around 1 Billion €, which includes around 780.000 new ring spindles, over 17.000 winding heads, 115.000 two-for-one twisting spindles, 1.250 new looms, dyeing, printing and finishing machinery and state-of-the-art cutting and sewing equipment.

Dr.Ahmed Moustafa, chairman of the Holding Company, was proud to announce that, as part of the restructuring project, the masterpiece of this development plan is the establishment of a state-of-the-art new spinning mills for fine and extra-fine counts, hosting over 182.000 spindles under one roof, making it the biggest of its kind worldwide.