Egypt’s publicly held Torah Cement has issued a statement to the Cairo and Alexandria Stock Exchange (CASE) firmly denying rumors that the company has received a letter of intent, or indeed is conducting negotiations, with investors interested in acquiring a stake in the company. A similar notice has been provided by Suez Cement, which holds a 66.6 percent stake in Torah Cement, denying any form of negotiations on their part with investors.
Also this week, Sinai Cement has been awarded the European Union quality certificate, CE52 Œ 5W, certifying that the company’s cement specifications prove in compliance with European standards, accordingly allowing for direct exports to European Union member countries. The company plans to export 300,000 tons of cement during 2003, equivalent to 20 percent of Sinai’s total production capacity. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
