Egypt Daily News – Dr. Khaled Shedid, CEO of Al-Nasr Automotive Manufacturing Company, said that the company is more than 64 years old. It was established in 1960, and began producing all types of cars, such as buses, cabs, taxis, and agricultural tractors. It is the largest and oldest automobile manufacturing company in the Middle East.
He added that “The company went through difficult circumstances and its losses accumulated
“Shadid”, during a telephone conversation with the journalist Azza Mostafa, during the “6 o’clock” program, broadcast on the “Al-Hayat” channel, that circumstances happened to the company and its losses accumulated, which led to its liquidation in 2009, pointing out that the Egyptian state decided in 2017, to resurrect the company and rebuilt again, stressing: “We tried more than once to find a strategic partner to start again, but we had no luck.”
He continued: “A year ago, we set clear goals, and to achieve these goals, we need a specific strategy to restart production again and then we succeeded in returning Al-Nasr Automotive Company to production again, and it has a large and very distinctive infrastructure.”
