Egypt's Sinai Cement okays exiting Sinai White Portland Cement

Sinai Cement's general assembly ratified the business continuity of the company as well as the financial results for 2019 and 2020

  
Image used for illustrative purpose. Indonesian porters move sacks of cement to be loaded on a traditional wooden ship at Paotere Harbor on April 30, 2014 in Makassar, Indonesia.

Image used for illustrative purpose. Indonesian porters move sacks of cement to be loaded on a traditional wooden ship at Paotere Harbor on April 30, 2014 in Makassar, Indonesia.

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Egypt - Sinai Cement Company’s ordinary general assembly approved selling its shares in Sinai White Portland Cement Company based on the fair value of Sinai White’s share, according to a statement filed to the Egyptian Exchange.

On June 17th, Sinai Cement's general assembly ratified the business continuity of the company as well as the financial results for 2019 and 2020.

The listed company incurred a consolidated net loss before minority interest of EGP 147.976 million in quarter one of 2021.

Sinai Cement is engaged in the manufacture and packing of different types of cement and its related products.

The Egypt-based company also produces clinker, cement, and other related products, in addition to cement packing bags.

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