An entrepreneurial role model

28/1/2014

When Eng. Magdy El Taher bought the Egyptian Plastic Factories, his first thought was for the workers. One of his first decisions was to raise the minimum wage to 1,200 EGP, and limit the working hours to 8, instead of 12, per shift.

As of March 2013, El Taher raised salaries to 1,500 EGP. The move, winning him the loyalty and dedication of his workers, boosted production from 150 to 650 tons per month. He also managed to open new markets in Europe, the Middle East, and Africa. Competitors in Italy and Greece decided to move their production lines to Egypt, in association with his company, a step that lowered their expenses while amplifying their profits.

Plans to produce 3,000 tons of plastic products per month are now underway, more than quadrupling the current rate. El Taher also signed contracts with marketing agents in Africa, Europe, the Gulf, Russia, and India, enabling him to export no less than 85% of his total production.

translated from Al Yom 7