Key information for bt100 companies numbers 1-10
1 Orascom Telecom Holdings (Orascom Telecom, OT, OTH)
Symbol: ORTE
2005 ranking: 1
Industry: Wireless telecommunication services
Employees: 15,000
The perennial bt100 all-star posted another year of outstanding performance in 2005 by any metric, from subscriber, revenue and profit growth to new acquisitions, all while firming up its base as an emerging markets player despite company CEO and founder Naguib Sawiris' foray into Europe through his privately held Weather investments.
Established in 1998, OT now stands as the largest and most diversified GSM network operator in the Middle East, Africa and Pakistan, with licenses in Algeria (Djezzy), Pakistan (Mobilink), Tunisia (Tunisiana), Iraq (IraQna), Zimbabwe (Telecel Zimbabwe), Bangladesh (Bangalink) and Egypt (MobiNil). In recent years, it has sold networks in Jordan and Yemen and continued divesting under-performing sub-Saharan African assets last year as it shed operations in Congo Brazzaville and the Democratic Republic of the Congo.
At the start of 2005, the Sawiris family held a 56.9% stake in the company, which remains the leading player on the CASE. Its global depository receipts are traded on the London Stock Exchange.
Critics who feared Sawiris' foray into Europe signaled he was turning his back on OT's strength in emerging markets were silenced late last year when OT bought a 19.3% stake in emerging markets titan Hutchison Telecom worth $1.3 billion.
"This is an important first step for both our companies," Sawiris said after the deal was made public. "We have often expressed our keen interest to enter some of the largest and highest-growth mobile markets in the world like India, Indonesia, and Vietnam. The tie-up with Hutchison Telecom presents OT with exposure to these markets."
Hutchison currently offers mobile and fixed-line services in Hong Kong and operates mobile services in Macau, India, Israel, Thailand, Sri Lanka, Ghana, Indonesia and Vietnam.
Hutchison and OT together have a total of 40 million subscribers, not including Wind, and an addressable market of some 2 billion people.
Last year OT lost its bid for Turkey's Telsim (won by Vodafone for an overpriced $4.55 billion) and is awaiting news of its $257 million bid for NITEL, Nigeria's state-owned operator. Although Orascom's was the only bid, it failed to meet the reserve price; Nigeria has asked for a revised bid, but OT has said it will not overpay.
Also in 2005, OT finalized its purchase of minority stakes in three of its subsidiaries. In Algeria, OT upped its stake to 88% from 58%, while in Tunisia it grew its holdings to 50% from 21% and in Iraq to 100% from 60%. (OT is currently operating on a license extension in Iraq, where it is negotiating a long-term operating agreement with the new Iraqi government.)
OT's 3Q05 results show revenues up 63% compared to the same nine-month period the previous year, topping out at $2.5 billion. Djezzy, the company's Algerian subsidiary, was the largest contributor to revenues with 32%, followed by Pakistan's Mobilink with 21%, MobiNil at 12.5% and Iraqna at 10%.
Subscribers increased by 107% to 30 million, while net income rose 75% to $491 million.
Meanwhile, A stock split on January 19 caused OT's share price to gain 6.8% on the first day of trading.
For more on OT, Wind and Weather, see this month's cover story, page 96.
MANAGEMENT: Naguib Sawiris (chairman and CEO) Alex Shalaby (Executive Vice-President) Emad Farid (Executive Officer for Operations Control) Aldo Mareuse (CFO) Hatim El-Gammal (Director of Investor Relations)
LISTED: 7/2000
PAR VALUE: LE 10
MARKET CAP: LE 66,336.600 million
TRADING DAYS: 249
AVG DAILY VOL: 88,816 shares
AVG DAILY VALUE: LE 45,048,242.41
COORDINATES: Nile City Towers Nile Corniche Boulaq Abul Elat Cairo Tel: +20 (2) 461-5050 / 461-5051 Fax: +20 (2) 461-5054 / 461-5055 www.orascomtelecom.com
2 Orascom Construction Industries (Orascom Construction, OCI, OCIC)
Symbol: OCIC
2005 ranking: 3
Industry: Construction and engineering
Employees: 40,000
Established in 1950, Orascom Construction Industries is Egypt's largest and most diversified private-sector construction and building materials group and an emerging global giant in its field. OCI has strategic partnerships with leading multinational companies in the construction and gas industries; its main projects include large industrial and infrastructure projects, construction materials manufacturing and infrastructure concessions.
Last year, OCI consolidated its position in the ranks of the world's top 10 cement producers and top 100 contractors.
OCI's activities range from the construction of some of Cairo's tallest buildings (the twin Nile City Towers near the Conrad Cairo, to which OCI and other Orascom companies moved last year) to a wastewater treatment system in Luxor, as well as electricity plants and private ports. OCI boasts major alliances with the Nile Valley Gas Company, City Gas Company, Suez Industrial Development Company and Egyptian Container Handling Company, of which it owns 50%. That concern has a joint venture with Stevedoring Services of America (SSA) and a co-op agreement with American Presidential Line (APL).
In 2004, OCI expanded operations into Europe, acquiring more than 50% of all shares in Brussels-based Societe Belge des Betons (SBB), a group of companies OCI had previously partnered with in the construction of the Ferdan swing bridge across the Suez Canal, the Conrad Cairo, the Nile City Complex and the Union Fenosa liquefied natural gas marine terminal.
In 2005, OCI owned and operated cement plans in Egypt and Algeria with combined annual production capacities of 13.5 million tons. New investments in Pakistan, northern Iraq, Nigeria, Algeria, the UAE, Spain and Turkey will see annual capacity more than double to 30 million tons in 2007. The company's contractors kept busy last year with projects in the Middle East, Africa and Central Asia. OCI runs construction contracts under three brand names, including Contrack International, a US-based subsidiary in which it has a 48% stake. Besix, 50% held by OCI, provides construction services to public- and private-sector clients in the Gulf and Central Asia.
At press time, OCI shares broke the LE 300 barrier as investor confidence peaked following its announcement that it would increase its capital to LE 5 billion from LE 2 billion through either a public offering or by increasing its number of spare shares. OCI also consolidated net profits worth LE 1.67 billion for 9M05, a 49% year-on-year increase, and revealed it had acquired the Egyptian Sack Company in a deal worth LE 43 million, adding to its existing bag capacity a facility with an annual production capacity of 60 million bags. Egyptian Sack had revenues of LE 38.6 million in 2004.
OCI later announced that it had snapped up an integrated cement plant in the lucrative Turkish market in a deal worth $54 million. The small-scale plant (annual production capacity of just 600,000 tons) near eastern Turkey's city of Van should be poised to exploit the new Egyptian-Turkish free-trade deal and gives OCI a production facility within striking distance of eastern European, Iraqi and Central Asian markets.
At the same time OCI announced plans to increase its capacity in eastern Turkey to 3 million tons a year "through a local partnership that will be subject to regulatory approval." The company recently completed the acquisition of a 20% stake in the 3-million-ton-per-year Baticim Cimento in western Turkey. Both companies are listed on the Istanbul stock exchange.
"OCI has earmarked a total of $250 million for its investment in both regions of Turkey," said company chief Nassef Sawiris. "We view Turkey as a natural extension to our core geographic markets around the Mediterranean rim."
The Sawiris family holds 69% of OCI, with Youssef Allam coming in at 4% and 27% publicly traded.
MANAGEMENT: Onsi Sawiris (chairman) Nassef Sawiris (chief executive officer)
LISTED: 25/3/1999
PAR VALUE: LE 5
MARKET CAP: LE 41,673.25 million
TRADING DAYS: 249
AVG DAILY VOL: 244,366 shares
AVG DAILY VALUE: LE 37,741,821.11
COORDINATES: Nile City Towers, South Tower 2005 A Nile Corniche Boulaq Abu El-Ela Cairo Tel: +20 (2) 461-1111 Fax: +20 (2) 461-9400 / 461-9401 www.orascomci.com
3 Alexandria National Iron and Steel (ANSDK)
Symbol: IRAX
2005 ranking: 2
Industry: Metallurgy
Employees: 3,181
Established in 1982, Alexandria National Iron and Steel (ANSDK) soon became one of the largest manufacturers of iron and steel rebars in Egypt. Today, the company exports to Saudi Arabia, Yemen, the United States, Canada, Spain, Sudan, and China. In 1999, El-Ezz Steel Rebars acquired a 20.89% share of the company, and the two combined forces under the brand name EZDK.
Together, the two steel companies account for nearly 60 % of the local market and in recent years have been dogged by allegations of monopolistic practices.
Ezz Holding Company holds 13.55% (after acquiring a 1.76% stake from Tomen Corporation), while the public sector retains 45.96% and 21.36 remains in private holdings (including free float). At press time, the company's board of directors had voted to change its name to El-Ezz National Iron & Steel (Alexandria). ANSDK is currently debating a 1:10 or 1:20 stock split to increase its liquidity on the CASE.
ANSDK reported LE 1.72 billion in 9MFY2005 profits for the period ending September 30, 2005, up from LE 0.83 billion for the same period in fiscal 2004. The increase came on the back of a 23.3% increase in net sales to LE 6.3 billion, compared with LE 5.5 billion in 9MFY2004.
MANAGEMENT: Ahmed Abdel-Aziz Ezz (chairman and managing director)
LISTED: 9/1995
PAR VALUE: LE 100
MARKET CAP: LE 18,017.40 million
TRADING DAYS: 248
AVG DAILY VOL: 16,797 shares
AVG DAILY VALUE: LE 14,534,269.40
COORDINATES: Dekheila Alexandria Postal Code 21537 Tel: +20 (3) 308-2300/308-2483 Fax: +20 (3) 308-2667 www.ansdk.com.eg selfar@ansdk.com.eg
4 Egyptian Company for Mobile Services (MobiNil, ECMS)
Symbol: EMOB
2005 ranking: 4
Industry: Wireless telecommunication services
Employees: 1,971
Formed in May 1998, MobiNil was the nation's first GSM operator and is currently in a neck-in-neck battle with rival Vodafone Egypt, which leads in total number of subscribers and revenues, although it lags slightly in profitability. Its bottom-line revenue benefits from roaming agreements with 236 operators in 106 countries and includes GSM, non-GSM and satellite partners. The company also has a broad retail base, with some 2,000 points of sale nationwide. Both operators have resorted to sharp competition on price in the past 18 months, adding millions of new users but lagging behind in network infrastructure, for which both have allocated millions of pounds in new investments.
Shareholders include Orange (France Telecom's mobile arm) and Orascom Telecom, the leading Africa and Middle East GSM conglomerate. MobiNil's total investment in the domestic economy tops LE 5 billion.
MobiNil's total subscriber base on the three-month rule climbed 108% between 1Q04 and 3Q05 to 6.561 million subscribers from 3.155 million. Revenues in 3Q05 climbed to LE 1.445 billion, up 18% from the same quarter the previous year, while EBIDTA grew 27% to LE 760 million in the same period as the all-important EBIDTA margin widened healthily to 52.6% against 49.7% in 3Q04.
MobiNil's 2004 revenues of LE 4.52 billion represented an increase of 29.09%, down from a 33.4% growth rate the year before. Still, those figures narrowed the growth gap between bt100 number 5 Vodafone, whose 2004 revenues grew 33.61% to LE 4.398 billion, down from a 50.3% growth rate the year before. Net profits at both operators dipped slightly in 2004: MobiNil was down 4.57%, while VODE shaved off 2.69%.
MobiNil and Vodafone continue to emphasize both competitive subscription packages and new premium services as they brace for the entry of a third mobile operator by year-end 2006.
In September 2005, veteran MobiNil CEO Osman Sultan stepped down to take the top job at the UAE's Tecom. The company's board appointed MobiNil and OT veteran Alex Shalaby to succeed Sultan. Shalaby, an Orascom Telecom insider, was previously AT&T's top Washington lobbyist before returning to Egypt to join OT in 1998 and had served as OT's executive vice-president.
MANAGEMENT: Naguib Sawiris (chairman) Iskandar (Alex) Shalaby (CEO)
LISTED: 4/998
PAR VALUE: LE 10
MARKET CAP: LE 18,201,000 million
TRADING DAYS: 249
AVG DAILY VOL: 115,694 shares
AVG DAILY VALUE: LE 20,814,618.74
COORDINATES: 1191 Nile Corniche, World Trade Center Building Boulaq Cairo Tel: +20 (12) 320-0000 www.mobinil.com
5 Vodafone Egypt (Vodafone)
Symbol: VODE
2005 ranking: 5
Industry: Wireless telecommunications services
Employees: 1,900
Originally launched in 1998 as Misrfone Telecommunications Company, Vodafone Egypt has, since being acquired by Vodafone International, grown from 20,000 to nearly 6 million subscribers and has benefited from roaming agreements with over 228 companies in more than 96 countries.
In late 2003, Telecom Egypt forfeited its right to establish a third GSM operator and elected instead to purchase 25.5 % of Vodafone. Today, Vodafone accounts for nearly half of the country's total subscriber base, running neck and neck with its main competitor MobiNil. Vodafone's 2004 revenues of LE 4.398 billion grew 33.61%, down from a 50.3% growth rate the year before. In the same period, MobiNil narrowed the growth-rate gap by hiking revenues to LE 4.52 billion, a gain of 29.09%. Net profits at both operators dipped slightly in 2004: Vodafone shaved off 2.69%, while ECMS was down 4.57%.
MobiNil and Vodafone continue to emphasize both competitive subscription packages and new premium services as they brace for the entry of a third mobile operator by year-end 2006.
Vodafone's total subscriber base on the three-month rule topped 5.921 million in 2QFY2005-06, an 85% gain compared with 3.197 million in the same period the previous fiscal. Revenues in 2QFY2005-06 grew 39% to LE 1.566 billion against LE 1.125 billion in the same period in FY2004-05, while EBIDTA climbed 38% to LE 844 million on a healthy EBIDTA margin of 54%.
Bottom-line profits soared 74% to LE 469 million against LE 270 million in 2QFY2004-05 as Vodafone implemented the new corporate tax law handed down by the People's Assembly in June 2005.
MANAGEMENT: Mohamed Nosseir (chairman) Mohamed A. El-Hamamsy (vice chairman) Ian Gray (CEO and managing director)
LISTED: 12/2003
PAR VALUE: LE 5
MARKET CAP: LE 24,235.20 million
TRADING DAYS: 249
AVG DAILY VOL: 340,615 shares
AVG DAILY VALUE: LE 24,695,156.01
COORDINATES: Vodafone Building 2 Km 28, Cairo- Alexandria Desert Rd Smart Village Tel: +20 (2) 529-1000 / 2000 Fax: +20 (2) 529-2000 / 529-2049 www.vodafone.com.eg
6 Alexandria Mineral Oils Company (AMOC, Alexandria Mineral Oils)
Symbol: AMOC
2005 ranking: N/A
Industry: Petrochemicals
Employees: 1,000
Established in 1997 with issued capital of LE 420 million, AMOC's three largest shareholders are the National Bank of Egypt, Alexandria Petroleum Company and Banque Misr; each held approximately a 20% share before last September's public offering. After the IPO, only Alexandria Petroleum retained its 20% share. The percentages owned by the National Bank and Banque Misr went down to 18.8 and 14.3 percent, respectively.
AMOC began production in July 2002. Today, the company specializes in the production of base oils, transformer oils, automatic transmission fluids, waxes, gas oil, naphtha, LPG and fuel oil blend. As the smallest of Egypt's nine oil refineries, AMOC produces only 2% of the country's total oil refined products.
The company's stellar performance (net profits FY2004-05 were LE 517.5 million, up 419% from the previous year) is attributed to the launch of AMOC's new gasoil complex in April 2004.
The new facility boosted production volumes by 172%. An increase in oil prices by 42% for FY2005 also boosted earnings. Gasoil is an intermediate refinery product that is heavier than diesel but lighter than residual fuel; it is used as what the industry calls a 'feedstock' to make lubricating oils or can be converted into lighter, more valuable products through cracking.
AMOC released 1QFY2005-06 financials for the period ending September 30, 2005, that showed bottom-line profits more than tripling LE 180.50 million against LE 53.6 million for the same period in the previous fiscal.
In late December 2005, Minister of Investment Mahmoud Mohieddin announced plans to offer an additional 15-20% stake in AMOC for sale.
MANAGEMENT: Abd El-Razik El-Kelshawy (chairman)
LISTED: 9/2005
PAR VALUE: LE 95.24
MARKET CAP: LE 6,724.41 million
TRADING DAYS: 63
AVG DAILY VOL: 307,363 shares
AVG DAILY VALUE: LE 26,455,640.44
COORDINATES: El-Sad El-Aly El-Ghamra Valley Daqahliyah Alexandria +20 (3) 444-3250/3252/3254 +20 (3) 444-3251/3253 amoc@amocalex.com www.amocalex.com
7 Eastern Company (Eastern Tobacco)
Symbol: EAST
2005 ranking: 6
Industry: Tobacco
Employees: 12,621
Established in 1920, Eastern Tobacco produces cigarettes and tobacco products on behalf of international brands and benefits from a complete market monopoly on domestic cigarette production.
Analysts estimate Eastern produces 92% of the cigarettes sold in Egypt (as of FY2000) and controls 55-60% of the market for shisha tobacco. Forbidden by law from growing tobacco in Egypt, Eastern's profitability has grown since 1999, when Egypt joined the Common Market of Eastern and Southern Africa (COMESA). The move immediately slashed duties on imported African tobacco from 80% to 20%.
Price controls on cigarettes became less stringent after 1999, when shares in Eastern Tobacco were sold to the public. The company is now allowed to increase prices on revamped old brands and new brands alike. Over the last year, Eastern has continued to boost revenues by releasing new brands of higher quality than its popular mainstay Cleopatra.
Eastern capitalizes on the huge popularity of smoking in Egypt. According to the US Food and Drug Administration, Egypt has the highest cigarette consumption in the Middle East and North Africa region (MENA). In 1999, Egypt consumed 46,600 million cigarettes. Eastern, a joint-stock company, became a subsidiary of the Chemical Industries Holding Company in June 2000; it was previously held by the Mining and Refractories Holding Company.
Although partially privatized, the state has been slow to offer the rest of the company for sale as lawmakers view the cigarette industry as a 'strategic sector.' The People's Assembly recently debated offering a majority share for sale to an anchor investor (British-American Tobacco and Altria are reportedly interested) or via a float of additional equity on the CASE. Minister of Investment Mahmoud Mohieddin has said he would like to see Eastern privatized "soon."
At press time, the Chemical Industries Holding Company announced that BAT "is currently examining the acquisition of a control[ing] stake in EC. BAT has appointed HSBC its financial advisor to prepare a bidding offer."
MANAGEMENT: Mohamed Sadek Ragab (chairman and managing director)
LISTED: 9/1995
PAR VALUE: LE 15
MARKET CAP: LE 7982.00 million
TRADING DAYS: 238
AVG DAILY VOL: 40,260 shares
AVG DAILY VALUE: LE 8,459,877.12
COORDINATES: 450 Al Ahram Street Giza Cairo Tel: +20 (2) 570-3326 / 572-4945 / 572-0852 Fax: +20 (2) 568-7434 www.easternegypt.com eastern@easternegypt.com
8 Egypt Aluminum (EgyptAlum, Misr Aluminum)
Symbol: EGAL
2005 ranking: 7
Industry: Construction materials
Employees: 500
Founded in 1969, Egypt Aluminum enjoys a monopoly on local aluminum production and exports 55% of its production. On the auction block since 2000, Egypt Aluminum has completed the first phase of privatization and is still planning to go completely private, yet hasn't had many serious takers. The float of the Egyptian pound has both hurt and helped the company, increasing the value of its exports while penalizing it for its foreign currency loans.
In summer 2004, EgyptAlum revamped its technological infrastructure through a multi-million-dollar contract with Sun Microsystems, one of the largest enterprise resource planning (ERP) projects in the country's manufacturing sector in more than two years. The new Oracle software will speed up accounting and other back-office operations. Raya Integration worked together with Sun channel-development partner Tech Access, which provided technical and logistical support at every stage of the implementation, and both companies continue provide professional and technical services for EgyptAlum.
EGAL released 1Q05-06 financial statements for the period ending September 30, 2005, showing a 25% increase in bottom-line profits to LE 100.3 million, up from LE 80.4 million in the same quarter the previous fiscal.
Ending months of speculation, Metallurgical Industries Holding Company Chairman Zaki Bassiouni announced on 17 January he would be offering "a 17% stake in Egypt Aluminum Company for public subscription on the Egyptian stock market" by the end of January.
The company subsequently announced a 2.5-to-1 stock split to increase its total number of shares to 125 million from 50 million while decreasing its par value per share to LE 4 from LE 10. At press time, MIHC held 92.2% of EGAL's equity.
MANAGEMENT: Sayed Abdel-Wahab (chairman)
LISTED: 2/998
PAR VALUE: LE 10
MARKET CAP: LE 6,307.00 million
TRADING DAYS: 142
AVG DAILY VOL: 2,372 shares
AVG DAILY VALUE: LE 244,112.03
COORDINATES: 48,50 Abdel Khalek Sarwat Street Down Town Cairo Tel: +20 (2) 390-2284 / 4710 Fax: +20 (2) 390-6793 / 393-0716 www.egyptalum.com.eg info@egyptalum.com.eg
9 Ezz Steel Rebars (Ezz Steel)
Symbol: ESRS
2005 ranking: 8
Industry: Construction materials
Employees: 1,279
Established in 1994, Ezz Steel Rebars is the largest steel producer in the region, manufacturing steel products for the domestic, African and Arab markets. El-Ezz Holding holds a 69.6% share, while 30.4% is in free float on the CASE.
ESR is Egypt's second-largest rebar producer, controlling 20% of the market share in terms of production; it is expected to reach 30% by this year.
In October 1999, ESRS acquired a controlling 21.5% stake in Alexandria National Iron and Steel Company (ANSDK, ticker: IRAX), the largest steel producer in Egypt. Later, Egyptian authorities slapped anti-dumping duties on steel imports from the Ukraine, Latvia and Romania, which helped relieve pressure on local producers. Nevertheless, the company suffered losses worth LE 40 million in fiscal year 2001.
ESRS's production facilities currently include a mini-mill in Sadat City (ESR) and a rolling mill in Tenth of Ramadan City (ESM). The mini-mill in Sadat City includes a melt shop for the melting of steel scrap, the casting of billet and two rolling mills, where billet is reheated and rolled into rebars. Auxiliary equipment includes a power substation, three water treatment plants, an oxygen plant, three LPG stations and two automatic generators. ESM's facilities consist of a rolling mill and a wire mesh factory.
ESRS recently released consolidated 9MFY2005 financials for period ending September 30, 2005, posting LE 359.8 million in bottom-line profits, up 201% from LE 163.2 million in the same period of 2004. Growth came as investment income more than doubled to LE 363.7 million and sales leapt 41% to LE 2.4 billion.
The company has a debt-to-equity ratio of 170.5% and high foreign-exchange exposure with more than 75% of its imports being raw materials. Leading brokerages, however, continue to maintain a 'strong buy'on ESRS, noting that it holds only moderate risk.
MANAGEMENT: Ahmed Abdel Aziz Ezz (chairman) Alaa Abu El-Kheir (managing director)
LISTED: 6/1999
PAR VALUE: LE 5
MARKET CAP: LE 5,941.74 million
TRADING DAYS: 248 (out of max of 249)
AVG DAILY VOL: 642,603 shares
AVG DAILY VALUE: LE 23,280,346.48
COORDINATES: 8 Amr Street Mohandiseen Cairo Tel: +20 (2) 303-0493 Fax: +20 (2) 305-8862 kgalal@ezzgroup.com www.ezzgroup.com
10 Egyptian Iron and Steel Company
Symbol: IRON
2005 ranking: 13
Industry: Construction materials
Employees: 14,523
The Egyptian Iron and Steel Company, founded in 1954 as a joint stock company with majority equity from the state, is the largest integrated steel mill in Egypt. It manufactures and exports metallurgical products including steel and iron sheets, metal coils, plates, hot and cold rolled strips, and galvanized and corrugated iron.
In recent years, it has been saddled with huge debt and has gone through numerous rounds of layoffs that cut its staff base from 22,700 in 1995 to 14,042 last year. In 2002, despite allegations of corruption and mismanagement, the company underwent some financial restructuring and capacity upgrades, and in March 2003, things started to look up with some profitable quarters and the signing of a contract with a Russian-French consortium to develop the company's third kiln with a total investment of LE 317 million over a period of 18 months. It posted explosive profit growth for FY2004, shooting to LE 9.10 million net profit from LE 0.40 million the previous year on the strength of a 55.8% rise in revenues to LE 1.808 billion.
The company is held 11.57% by Ibrahim Al-Moallem, 11.56% by Adel Moallem, 15.44% by the Export Development Bank of Egypt and 13.88% by the Cairo and Jeddah Shorouk House. The balance is in free float and small holders. IRON is held by the Metallurgical Industries Co. (www.iron-steel.com.eg/micor/default.htm), which also owns El-Nasr Automotive Manufacturing, among others.
The Moallem family also owns Dar El-Shorouk, a leading Egyptian publisher. Al-Wataniya Press offered to buy El-Shorouk in late November 2005 for LE 82.8 million.
MANAGEMENT: Ali Helmy El-Sayed (chairman and managing director)
LISTED: N/A
PAR VALUE: LE 2
MARKET CAP: LE 8,062.33 million
TRADING DAYS: 241 (out of max of 249)
AVG DAILY VOL: 23,710 shares
AVG DAILY VALUE: LE 486,252.86
COORDINATES: El-Tebbin South Helwan Cairo Tel: +20 (2) 501-1624 / 501-1591 Fax: +20 (2) 501-2370 www.iron-steel.com.eg eisc@idsc.net.eg
Business Today Egypt 2006
