by Eugene Vorotnikov FoodBizDaily.com
November 10 2009 - German Retail Group METRO Cash & Carry is opening its first hypermarket in Kazakhstan and starting the construction of its first shopping center in Egypt, according to Kazakh press. This will help the company to strengthen its positions as the world’s most international retail group.
"Due to the dynamic development of the middle class and an impressive growth of the restaurant and hospitality industries, Kazakhstan, as well as Egypt is an attractive market for the business development of the company", - said Chairman of METRO Cash & Carry International Frans Muller.
Opening the first hypermarket in the capital of Kazakhstan Astana and starting the construction of the first retail center of in Egypt, will give an opportunity to Metro Cash & Carry to become closer to the emerging markets of Central Africa and the Middle East/North Africa. At the moment the German company is operating in 31 countries - as none of the other market competitors.
"Thanks to the entrepreneurial vision, unique experience and expertise in the field of internationalization, the company has become one of the leaders in the market"; we are proud of our performance and will continue our business”. Muller added.
According to Russian media, in the case of high consumer activity Metro Cash & Carry will open more than 10 small-scale wholesale trade centers in Kazakhstan, with the average level of investments from 15 to 20 million euro. Opening of the first shopping center in Egypt is scheduled for early summer 2010.
In the medium term Metro Cash & Carry sees a potential to open 10 shopping malls in this North African country and more than 20 small-scale wholesale trade centers in the long term. In Egypt, the company will operate under the brand name MACRO.
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METRO AG
Address: Schlueterstrasse 1 Duesseldorf, 40235 Germany
Telephone: +49-211-68860
Fax: +49-211-68863759
About METRO AG
METRO AG is a Germany-based trading and retail company. It acts as a holding company for the METRO Group, which is organized into four independent sales divisions: Metro Cash & Carry, which is engaged in cash and carry wholesaling worldwide; Real, which operates hypermarkets in Germany, Poland, Romania and Turkey; Media Markt and Saturn, which sells consumer electronics across Europe, and Galeria Kaufhof, a chain of department stores in Germany and Belgium. The Company is active in about 2,200 locations in 32 countries in Europe, Africa and Asia. Its sales divisions are supported by cross-divisional service companies, offering procurement, logistics, information technology, real estate management and business solutions. On July 1, 2008, the Company sold its 245 Extra supermarkets to the Rewe Group.