Feb 02 2010
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Oriental Weavers to build LE 250 mln factory
According to the company, the thread factory, which will be located in OW 's industrial complex, will be operational by mid-2011.
The company had announced the complex in early 2008 but later postponed plans as a result of the global financial crisis, Belton Financial said in its daily market report; however, "this announcement means that the group is proceeding with its plans due to its relatively stale performance during 2009 and its positive expectations for 2010."
"The company currently has a capacity of 113 million m² and has witnessed an increase of 67 percent in confirmed orders at the 2010 Hanover Annual Fair versus 2009, indicating strong demand for the group's products due to recovering international markets," Beltone said.
© Daily News Egypt 2010
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