Home / Knowledge / News / Textiles / Egypt's Holding Company fuels funds into subsidiaries
Egypt's Holding Company fuels funds into subsidiaries
18
Sep '15
The Holding Company for Cotton Spinning and Weaving, a public sector enterprise run by the Government of Egypt, has provided investments worth EGP 150 million (approx $19.15 million) to eight subsidiary companies this year, according to Egyptian media reports.

The company is supplying urgent investments to 8 subsidiary companies to boost the production capacity and make the number of production lines, which have been held up for a long time, operational.

The holding company will be funding the new investments from its treasury, which will be utilised for buying equipments and machineries over a maximum period of three months. The investments will flow throughout the financial year 2015-14 and the restructuring is expected to take place in around one year.

The Egypt based company plans to increase total profits among its subsidiary companies from EGP 3.4 billion ($434 million) in financial year 2014-15 to EGP 4.5 billion throughout 2015-16. The company also hopes to decrease losses by EGP 400 million ($51 million) approximately during this period.

The subsidiary companies who will be receiving the investment are EL Nasr for Wool & Selected Textiles; Damietta Spinning and Weaving; Daqhalia Spinning and Weaving; El-Nasr Spinning and Weaving Shourbagui; Stia; Misr Spinning and Weaving Company in Mahalla; El-Nasr Spinning, Weaving, and Dyeing; and Misr Spinning and Weaving in Kafr El Dawar. (HO)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search