“REM & Coil” diversifies growth through a business mission in Arab countries.
In December, another business mission was organized by Russian company “REM & Coil” covering Egypt and Saudi Arabia. The plant's interest in these countries increased due to the withdrawal of the largest repair company “ABB-Cairo” from the Egyptian market.
ABB is one of the world's leading energy and automation companies with a diverse portfolio of products and services, including energy efficient transmission and distribution of electricity. The company produced a number of energy and automation products in Egypt to meet the growing local demand for sustainable electrical infrastructure. It can be assumed that all the volumes previously occupied by this company will be redistributed among other local repair companies in Egypt.
As part of this trip, negotiations were held with current customers in order to strengthen relationships and expand the range of coils and rods for supplies that are used to repair and create electric car engines.
There were also meetings with new customers where were presented the production capabilities of the plant and discovered problematic issues. It is worth noting that in these countries there was a very positive attitude and a great desire to cooperate with Russia.
However, there are still difficulties with withdrawing dollars from the country and problems with payment forms to suppliers. It is planned that by the spring of 2024 actions on the BRICS countries should solve this problem.