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 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

July 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

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

Yes No

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

Yes No

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


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



X