Ezz Steel says probe should have little impact
Cairo, March 24, 2011
Egypt's Ezz Steel said on Thursday it did not expect that legal investigations of its chairman, Ahmed Ezz, would impact the firm's management or operations.
Ezz, who was a top official in ousted president Hosni Mubarak's party, was charged with illegally taking control of state-owned al-Dekheila Steel which then supplied Ezz Steel with steel at reduced prices, causing al-Dekheila heavy losses.
"It is not expected that the investigations related to Engineer Ahmed Ezz would have any impact on the firm's management, or its ability to perform its activities,” a statement said. – Reuters