Arab Finance: Egyptian tech startup Simplex, which specializes in the assembly and manufacturing of Computer Numerical Control (CNC) machinery, has inaugurated a new industrial expansion in 10th of Ramadan City, according to an emailed press release.

Established with investments totaling $50 million, the new facility spans 40,000 square meters.

During the event, the new production line was officially launched with the placement of the "Proudly Made in Egypt" label, marking the start of commercial production.

In line with its regional growth strategy, Simplex entered into new partnerships and agency agreements in both Jordan and Kuwait, strengthening the presence of Egyptian engineering products and industrial solutions across Arab markets.

The event also featured the laying of the foundation stone for Simplex's third manufacturing plant, reflecting the company's long-term investment strategy to back Egypt's industrial development.

Ahmed Shaaban, Founder and Chairman of Simplex, commented: “This celebration stands as a testament to what Egyptian youth can accomplish when given the opportunity and support. Simplex began as a graduation project and has evolved into an enterprise exporting to 34 countries, proving that Egyptian industrial innovation can compete on the global stage”.

Mohamed Mansour, Co-founder and Chief Commercial Officer of Simplex, added: “Our vision is to become a major player in the global CNC machinery manufacturing industry. This expansion marks a significant milestone toward that goal, empowering us to meet rising demand and strengthen our international presence”.

The inauguration ceremony was attended by senior government officials, diplomats, and representatives from Egypt's financial and business communities.

Simplex employs more than 400 engineers, technicians, and administrative staff, serves a customer base of more than 4,523 clients in Egypt and international markets, and has generated cumulative sales exceeding $100 million. The expansion is expected to provide over 1,000 direct jobs and more than 10,000 indirect employment opportunities.

The startup currently exports its products and solutions to 34 countries across Africa, Europe, and the Middle East, with exports accounting for around 15% of total production. The company aims to increase this share in the coming period, supported by its expanded production capacity and newly signed regional partnerships.