Egypt’s corporate news: May 3
Since its acquisition of 66 percent of Torah Cement (TORA.CA),Suez Cement (SUCE.CA /SUCEq.L) for the first time recognized Torah Cement and Suez Bag Company (SBAG.CA).
Suez Cement released its FY2000 consolidated financial statements, in which consolidated revenues recorded LE1.3 billion versus LE731 million in FY99.It is worth nothing that the company’s FY99 results did not include Torah Cement. Consolidated net income after minority interest reached LE296 million compared to LE260 million in FY99.On a stand-alone basis,Suez Cement released its appropriation statements in which the suggested dividend is LE2/share.
Paints & Chemical Industries -PACHIN (PACH.CA) has reached an agreement with S. Dyrup & Co. A/S, the leading Danish manufacturer of decorative paints and wood care products, to manufacture a range of products under license. The agreement will come into effect on July 1,2001.
Delta Insurance (DEIN.CA) announced that it has registered its shares in the central depositary system effective May 13.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)