CAIRO – 28 March 2021: The Egyptian Iron and Steel (IRON) announced that the company's liquidation process is continuing, and the committee overseeing the liquidation business did not receive any offers to sell the company. It stated that the decisions of the Ordinary and Extraordinary General Assembly of the Egyptian Iron and Steel Company are being implemented under liquidation held on January 11, 2021. During the first half of fiscal year of 2020/2021, the Egyptian Iron and Steel Company’s losses decreased by 8.6 percent, on an annual basis. The company's revenues declined during the six months to record LE 555.28 million by the end of December, compared to LE 583.25 million during the same period of last fiscal year. Egyptian Iron & Steel operates within the Materials sector focusing on Steel.

Source: Egypt Today March 28, 2021 12:56 UTC