[Photo by Hanwha Techwin Co.]
South Korea’s security cameras maker Hanwha Techwin Co. will provide closed-circuit televisions (CCTVs) and security solutions to Egypt.
The company announced Tuesday that it signed a memorandum of understanding with the Ministry of Military Production in Egypt to supply security cameras and surveillance solutions. It has become the first domestic security firm to sign a business agreement with the Egyptian government. It will provide CCTVs and surveillance system to 10 or more major cities in the country.
A part of the orders will be manufactured in Egypt under the state-run electronics manufacturer Banha, which would pave the way for a long-term cooperative relationship with the country, the company said.
Hanwha Techwin’s security cameras are equipped with its own system on chip (SoC) to ensure high performance with features such as image stabilizer and lighting control.
The company had entered the Middle East and Africa after opening an office in Dubai in 2012, and established a subsidiary in November 2016 to expand its sales in the market. The Middle Eastern subsidiary posted $35 million in sales last year.
By Lee Yu-sup and Choi Mira
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