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ArabFinance: The liquidation of Egyptian Iron and Steel (Hadisolb) is a final decision and the Public Business Sector Ministrys priority is to compensate the workers within 3 months, the minister Hisham Tawfik.
The liquidation is a general meeting resolution and its not comparable with the decision that was taken in the 90s, Tawfik said, noting his role to help the public sector not to liquidate it.
Liquidating the establishment will be completed after the companys workers are compensated, Shorouk News cited public enterprises minister Hisham Tawfik.
The listed company suffered a net loss after tax of EGP 274.48 million during the July-September 2020 period.
Egyptian Iron and Steel, an affiliated company of HCMI, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products. The company provides two product segments, major products, and other Products.
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