PerfoTec BV signed a strategic partnership with Egypt-based GoodSeal Packaging Company, including a global PerfoTec licensing agreement and a significant order for PerfoTec equipment, to expand into North Africa and the Middle East.

Egypt's Ibda initiative signed a shareholder agreement with Spain's Coperci, part of Mondragon group, to set up Egypt's first gas safety valve factory with capacity of 15 million valves and an investment of about $6.7 million, scheduled to open in April 2023.