China’s National Arts and Crafts Import/Export Corporation (CNART) has signed two purchase deals with Mercedes-Benz Egypt valued at $47.2 million, reported Xinhua. The first contract obliges the Chinese corporation to buy 250 of Benz’s newest 2003-car model by the end of 2002 while the second contract involves a 1,000-unit purchase for 2003.
Mercedes-Benz Egypt’s network of agents and dealers was set up in the 1980s. The company started manufacturing vehicles in 1997 with the setting up of its factory, at Sixth of October City, with its Egyptian partners, Egyptian German Automotive (EGA).
German auto-maker, Mercedes-Benz recorded a four percent rise in worldwide sales of passenger cars for the month of June, reaching 95,700 units compared to figures from the same month last year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
