The Helwan Portland Cement Company (HPCC) will change its name to ASEC-Helwan cement, following a merger deal between the two companies, reported Al-Alam Al-Youm. The revaluation of the new entity is currently underway with a target date of completion set for November.
The Cairo-based Arab Swiss Engineering Company (ASEC) bought out all the shares in HPCC that it did not already own in 2001. ASEC announced that following the acquisition, its cement division would merge with HPCC. ASEC held 3.5 percent of HPCC's shares before the deal. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
