MAC Carpet – FCI on flying carpets around the world
MAC Carpet is one of Egypt's top exporting firms, with more than 90% of its total production going to 107 countries worldwide. MAC Carpet is a sister company of the Oriental Weavers Group, one of the largest private industrial conglomerates in Egypt with diversified activities in numerous fields.
1980: MAC Carpet was established with a capital of US$1million and a total annual production of 1 million square meters of carpets and rugs.
2010: MAC Carpet is now considered a world leader in the carpet industry for custom tufted and digital printed carpets and rugs specifically produced to meet each and every client's demands. With 30+ years’ experience, the firm now boasts an outstanding annual production of 58 Million square meters, operating around the clock and employing over 6,000 people.
“Our success must be contributed to our most talented and dedicated staff and the support of tremendously loyal customers and suppliers” as stated by Mr. Alaa Hashem, Board Member of MAC Carpet during the first meeting with EGYPT FACTORS.
MAC Carpet was dealing directly with foreign factoring companies for many years to sustain their needs in many of their buyers’ markets. However with the 2008 financial crisis they were faced with the problem that access to finance was shrinking (particularly in US and Canada – their main export markets) while at the same time, the risk of buyers’ default was increasing. This is when the very experienced management decided to explore alternative options to finance and protect their exports with EGYPT FACTORS – the first Egyptian private factoring company developed by FIMBank (leading bank in trade finance solutions), CIB (largest private bank in Egypt) and IFC (member of World Bank Group).
EGYPT FACTORS introduced MAC Carpet the benefits of dealing with a member of Factors Chain International (the leading worldwide network of factoring companies), which would result in a one-stop-shop solution for exports to more than 60 countries with a full package of services (risk protection, collection and finance). Exporters have the option to pick any combination to match their specific needs.
“Based on credit limits secured by our FCI partners in both Canada (National Bank of Canada) and US (BB&T, UPS and CIT), EGYPT FACTORS was able to offer MAC Carpet a package of full factoring services, of which the most important feature was financing” said Mr. Marius SAVIN, General Manager of EGYPT FACTORS.
“We were very happy that during these difficult times factoring services were still available in Egypt via EGYPT FACTORS, with the assistance of their partners in the FCI network. We feel that EGYPT FACTORS services are professional and reliable”, said Mr. Ayman Refaat, Treasurer of MAC Carpet.