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

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 27th Mar 2017

CCI shows US cotton textiles at Intertextile Shanghai expo

The Cotton Council International (CCI), the global marketing arm of...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search