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State-owned mills beyond redemption to be shut-down

11
May '10
The Egyptian government is planning to shutdown around 25 percent of the state-owned loss-making textile mills in the country. In all, there are 22 textile mills, which are managed by a state-owned holding company.

According to a senior official of the textile holding company, five or six subsidiaries, which are beyond redemption, may be entirely or partly liquidated, for which they have initiated a study, to evaluate these subsidiaries.

Fibre2fashion News Desk - India


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