Publish dateThursday 22 August 2024 - 15:12
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E7 Group, a part of ADQ and listed on the Abu Dhabi Stock Exchange, announced in a report that it will start production of digital tax stamps in 2025 with a total investment of 182 million dirhams.
photo: wam
photo: wam
According to Amac News: According to E7 Group report, this investment will strengthen its capacity to design and produce travel passports to meet the growing global demand for technology-based security solutions.
Ali Saif Ali Abdulla Alnuaimi CEO of E7 Group, said that E7 plans to start producing digital tax stamps by next year, and the increased passport production capacity will follow soon after.
It is expected that the increase in production capacity will have a positive effect on the group's income in the second quarter of 2026.
He explained that E7's future strategy is focused on expanding its scope in the field of security solutions, strengthening production capabilities and entering new markets.
He also noted that the group's cash balance, which totals AED 1.28 billion, provides financial flexibility to take advantage of new opportunities, including potential acquisitions within the UAE and abroad.
Alnuaimi stressed that the group sees significant growth potential in security and packaging solutions with a long-term strategy aimed at using its market position to expand into complementary sectors and offer new services.
In the first half of 2024, E7 Group secured several contracts worth AED 285.3 million, with AED 139 million coming from security solutions alone.
 
https://amacnews.com/vdci.razct1ap3li2t.html
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