Pegas to invest €60 mln in Egypt plant

Pegas Nonwovens, the Prague-listed producer of textiles used in hygiene products and health care, plans to invest up to €60 million to build a new factory in Egypt that will supply a customer in the Middle East, the company announced on Wednesday. The Czech company plans to build a production line with an annual capacity of 20 tons a year, which should be launched in the second half of 2013. If market conditions prove favorable, a second line could be added in 2015, bringing capacity to 40,000 to 50,000 tons a year.