Monday, Jun 25, 2007
CAIRO (Zawya Dow Jones)--Egypt's Energya Industries, formerly known as El Sewedy Industries, said late Sunday it signed a EUR5 million contract with Switzerland's Maillefer Extrusion to buy two production lines for its cable factories.
One of the new high voltage CV Lines will be used in Egypt, while the other will be used in the Saudi Arabia factory, Hisham El Sewedy, Energya Industries' chief executive, told reporters at a press conference.
Energya Industries' capital turnover is $1 billion, El Sewedy said.
The company has seven units, including Energya Cables, Energya Steel Solutions, Energya Telecom Solutions, Energya Electrical Industries, Energy Engineering & Distribution, Energya Metals and Energya Plastics.
Energya Industries operates in Egypt, Algeria, Libya, Sunday, Saudi Arabia, U.A.E, Qatar, Bahrain, Lebanon and Pakistan.
Last year, the company invested $400 million to expand its various sectors.
Energya Industries shouldn't be confused with El Sewedy Cables, which is a separate company listed on the Cairo and Alexandria Stock Exchanges.
-By Maha El Dahan, contributing to Dow Jones Newswires, +201 2226 7850, mahaeldahan@yahoo.com
Copyright (c) 2007 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
25-06-07 0558GMT
