Dr. Greiche Announces Strategic Partnership through a Merger Deal with High Glass
CAIRO – 9 July 2024 – Dr. Greiche, a pioneer in the glass industry renowned for its unwavering commitment to excellence, has announceda strategic partnership through a merger deal with High Glass, solidifying its position as a leader in the market.
Engineer Shahir Greiche, Managing Partner at Dr. Greiche, expressed his enthusiasm for this strategic move, stating: “Our merger with High Glass will boost production by a staggering 150,000 square metersannuallyand expanding our workforce by an additional 100 skilled employees.”
Highlighting the significance of the merger, Engineer ShahirGreiche underscored the valuable addition of High Glass products in increasing Dr. Greiche’s productionin rear, side and roof windows.
The collaboration aims to enhance the production range; while also leveraging Dr. Greiche’s high-tech products such as solar and acoustic glass, positioning the combined entity for enhanced innovation and market leadership.
Mrs. Heba Sakr, CEO of High Glass, commented: “I’m thrilled about this merger with one of the iconic names in the glass industry in the Middle East. I’m confident that with Dr. Greiche’s leadership and expertise in this sector, our products will create numerous opportunities for expansion and entry into international markets.”
Engineer Greiche highlighted Egypt’s glass and glassware exports, which surged to US$608.57 million in 2023, positioning the industry as a lucrative contributor to the nation’s foreign exchange reserves. This underscores the sector’s potential for significant growth and its capacity to make a substantial economic impact, as reported by the United Nations COMTRADE database on international trade.
With a decade of experience, High Glass excels in manufacturing automotive glass and facades to international standards. Achieving the prestigious IATF certificate reflects the company’s commitment to innovation and excellence through cutting-edge technology and stringent quality standards.
Dr. Magdy Greiche, the visionary founder of Dr. Greiche, established the company’s first glass factory in 1985. Over the past three years, Dr. Greiche achieved remarkable turnover increase by 30%, 29% and 15%in 2021, 2022 and 2023 consecutively, demonstrating a substantial growth rate.
On the other hand, Dr. Greiche’s global footprint extends to over 40 countries across Europe, the Middle East, Africa, Asia, North America, and South America, with an average export percentage of 30% from its total production.
With automotive glass constituting nearly 50% of the company’s turnover, Dr. Greiche operates with a monthly capacity of 150,000 square meters of Automotive Glass, leading the industry with 5000 distinct automotive glass.
From the standpoint of the state’s commitment to localizing the automotive industry, Dr. Greiche has proactively implemented a series of measures to align with the industry’s forthcoming requirements, including the announcement of this merger.
As part of its strategic expansion, Dr. Greiche operates 86 distribution and installation centers and commands 80% of the After-Sales Service market through its franchise system.
With ambitious plans for further expansion, Dr. Greiche boasts a workforce of approximately 1750 employees. Since its inception, the company has established multiple state-of-the-art factories, each equipped with cutting-edge technologies to meet the evolving demands of the industry.
Adhering to highest international standards, Dr. Greiche certifications including ISO 9001:2015, ISO 14001:2016, ISO 45001:2018, BIQS, and IATF 16949:2016.
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