Egypt’s Misr Beni Sueif Cement Company (MBSC) reported net profits of 21.8 million Egyptian pounds ($3.5 million) for the first nine months of 2003.
MBSC recently renewed negotiations with Ireland’s CRH Company regarding the acquisition of a 51 percent stake in the Egyptian firm. CRH has offered to pay $4.5 per share. The deal has been in the works for the past two years.
The most privately owned Egyptian cement producer, MBSC recorded an eight percent total asset increase in the first half of the year reaching EP 691 million, up from EP 642 million recorded during the same period last year. — (menareport.com)
© 2003 Mena Report (www.menareport.com )