Home / Knowledge / News / Textiles / Kabo claims loss of output & exports due to strike
Kabo claims loss of output & exports due to strike
30
Aug '11
A workers strike going on in Egypt's El Nasr Clothing & Textile Co (Kabo) since August 17 has caused the company to suffer a production loss of four million LE and three million LE in terms of exports.

Inspired by the rebellion that overthrew President Hosni Mubarak, several workers in Egypt started observing strikes seeking better working conditions and higher wages. Though majority of the strikes have receded but still erratic eruptions are on.

Kabo, one of the earliest Egyptian companies to be privatised, has been restructuring itself since its listing on stock exchange in 1997. Following restructuring, the company besides cutting down its workforce has even streamlined its operations.

The company in a statement submitted to the stock exchange stated that a particular group of workers was prohibiting other workers from working.

In the statement, company Chairman Amr el-Sharnoubi who assumed charge in September 2009 said that the firm's administration was startled by the demands newly out forth by the workers, particularly when their demands had already been addressed by the management.

As revealed by the company Chairman, the company has already approved a 15 percent hike in wages alongside increased allowances, allowed promotions to around 1,500 workers and made all temporary workers permanent. Doing all this, Sharnoubi said, required the firm to incur a cost of nine million LE.

The statement further added that industrial action even held back the firm from fulfilling domestic orders worth LE3.5 million as the firm even operates retail stores under flagship brand Jil.

Fibre2fashion News Desk - India


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

Maharashtra’s new textile policy to privatise cooperatives

Textiles | On 20th Feb 2018

Maharashtra’s new textile policy to privatise cooperatives

The state government in India’s western state of Maharashtra, under...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kevin Nelson
TissueGen

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

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

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks
Wendell Rodricks

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

Sonam & Paras Modi
SVA

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

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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