Ezz Steel, Egypt's largest steelmaker, has signed a long-term financing agreement with two banks worth EGP1.7 billion ($236 million) to help it restructure its debt.
The loan will be repaid in quarterly instalments over seven
Ezz Steel, Egypt's biggest steelmaker, posted a first-half net loss of E£176 million ($24.6 million), compared with a net profit of E£302 million ($42.1 million) a year earlier.
"The first half of 2014 has bee
Ezz Steel, Egypt's biggest steel maker, said that consolidated net profit for the second quarter rose 76 per cent year-on-year and that a new plant it was building would increase earnings in coming years.
"The strong dome
Egypt's largest steel producer, Ezz Steel, said it expects its profit to increase in 2014 thanks to a new sponge iron factory that should shave $50 to $100 off the cost of each tonne of iron it produces.
"We are working o
Egypt's largest steel producer, Ezz Steel, swung to a profit in the first quarter as prices rose and a buoyant housing construction market absorbed growing volumes of long steel, the company said on Thursday.
The results sugge
Egypt's largest steel producer, Ezz Steel, said on Tuesday its net profit for the first nine months of 2011 declined 26 percent from a year earlier.
The company was rocked by the uprising against leader Hosni Mubarak in February and its a
Ezz Steel, Egypt's biggest steelmaker, posted a 79 per cent drop in first-half net profit as it set aside a potential tax liability to cover measures introduced by the government in the wake of Egypt's uprising.
The group has been rocked b
Ezz Steel, whose shares have been battered since a court jailed its former chairman and ordered two of the Egyptian firm's licences be withdrawn, said on Sunday the decision would not affect current operations but would hit future investments.
Egyptian group ezzsteel said 2010 consolidated net profit almost tripled, buoyed by strong domestic demand for long products and the restart of a flat steel plant.
Net profit for 2010 was 252 million Egyptian pounds ($42 million), wh