Ideal to merge with five Egyptian industrial companies
Egyptian home appliance manufacturer Delta Industrial (Ideal) is currently in merger talks with five local industrial companies. Once an agreement is finalized, the six firms will form the largest private appliance enterprise in the country, reported Al-Alam Al-Youm .
The five companies involved in the merger are the International Company for Modern Industries, Cairo Light Industries, Cairo Engineering Industries, Cairo Modern Industries and Cairo Industries.
Ideal began production of steel furniture in 1945. The company now produces refrigerators, automatic washing machines, gas cookers and manual washing machines. In 1998, the company became a privatized shareholding company under the Olympic Group. — (menareport.com)
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