Eastern Co. is studying electronic cigarettes as an alternative to traditional combustible products, reports Egypt Today.
In a statement to the Egyptian Exchange (EGX), Eastern Co. said it consulting with manufacturers of electronic cigarettes in preparation for putting them on the market after obtaining the necessary licenses.
The move is in line with the company’s strategy to expand and diversify its products.
Earlier in March, Eastern Co. announced that it is studying several new investment projects that will enhance its position in the field of smoking and tobacco alternatives.
Eastern Co. operates within the food, beverage and tobacco sectors. It was established in July 1920 and currently holds a monopoly in the domestic tobacco market.
Egypt has invited tobacco companies to bid for a license to manufacture cigarettes in the country, a move that could reduce Eastern Co.’s dominance of the local market.