13
Oct
11:52
Hadisolb to spin off iron ore mining business
Egyptian Iron & Steel Company (Hadisolb) plans to spin off its iron ore mining activity into a separate business unit owned by the same shareholders as the steelmaker.
A committee will be formed to assess the book value ahead of the split.
In the fiscal year through June 2020 Hadisolb reduced net loss to EGP 887.37 million ($56.7m) from EGP 1.52 billion the previous year.
Last summer the Egyptian firm signed an agreement with Ukrainian firm Vazhmashimpeks to…
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Very good overview of the weekly steel market.
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