Egypt's El Sewedy Electric, the Arab world's biggest listed cable maker, said its second quarter net income surged 159 percent year-on-year as wire and cable revenue rose.
Consolidated net income after
Egypt's El Sewedy Electric, the Arab world's biggest listed cable maker, posted a 34 percent drop in its consolidated net profit for 2011, according to figures published by the Egyptian stock exchange on Monday.
Net profit fell to 536.5 m
Egyptian group El Sewedy Cables said on Monday it would set up a cable manufacturing plant in Libya by the end of 2011 with total investments of $50 million.
"The plant will generate revenues of 20 percent (of the investment)" after it beg
General Cable Corp has bought Egyptian cable company BICC Egypt for $21.7 million, the sellers said.
General Cable, a maker of low voltage cables, aims to expand BICC's sales outside of Egypt, according to a statement issued by Sphinx Priv
Egypt's El Sewedy Cables has invested 40 million euros ($54 million) to open two factories making equipment for electricity-generating wind farms, the stock exchange said on Sunday.
A wind poles plant in Ain Sukhna on Eg
Egypt-based El Sewedy Cables said on Monday it would build a $150 million power cable plant in Qatar with a local partner to tap surging Gulf Arab infrastructure spending.
The factory will have an annual production capacity of 30,000 tonne