- Business
- Eastern Company S.A.E. (EAST.CA) manufactures and sells tobacco products in Egypt and internationally. The company offers cigarettes under brands such as Cleopatra, Mondial, and Eastern King; handmade cigars including Tuscani; molasses tobacco/moassel products; water pipe tobacco; pipe tobacco; cut rag tobacco; roll-your-own tobacco; cigarette filters; tobacco flakes; and paper packets. Eastern Company exports its products to markets including Malawi, Madagascar, Kuwait, Qatar, Lebanon, Bahrain, Jordan, Saudi Arabia, the United Arab Emirates, Libya, Iraq, Oman, Germany, Austria, Malaysia, Japan, Thailand, the United States, and Canada. Founded in 1920 and headquartered in Giza, Egypt, the company operates multiple factories across Egypt, including its main production facility in the Obour City Industrial Zone. In May 2024, Philip Morris International acquired a 14.7% indirect minority stake in Eastern Company and signed a non-exclusive letter of intent to explore strategic collaboration in technology, manufacturing, innovation, and heated tobacco products. Eastern Company's shareholders approved a capital increase from EGP 2.23 billion to EGP 3 billion in March 2024 by converting reserves, raising issued capital to EGP 3 billion as of the latest updates; the company also implemented price increases for select cigarette brands in April 2024 and earlier periods. In September 2023, UAE-based Global Investment Holding Limited acquired a 30% equity stake for $625 million. The company serves consumer markets in the tobacco industry, primarily adult smokers, with operations focused on Egypt and export regions across the Middle East, Africa, Europe, Asia, and North America.