15 January 2010
Oriental Weavers Carpets said Thursday that a group from the company will be heading to Germany and the US to present their latest new designs in Damotex Hannover International Exhibition for Carpets and Atlanta Fair that will be held within few days, reported Al-Ahram.

In its daily notes, CI Capital said, "We believe that pending the orders the company will receive from these two exhibitions, the company will be able to determine the Capex plan for 2010 and the distributed dividends from FY09 earnings."

Orders received from these two exhibitions represented around 18 percent of the carpet makers' export sales in 2009.

"In 2010, we expect exports to resume growth starting the second quarter in light of the expected recovery by mid this year," CI said.

"The company was able to mitigate the negative impact of the slowing international demand via diverting unutilized export capacities to the local market and penetrating new markets."

© Daily News Egypt 2010