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National Industries halts expansion in Egypt, Libya

National Industries halts expansion in Egypt, Libya
Photo Credit: Arabianeye-Reuters
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By: Ahmad Awad

Kuwait-Mubasher: National Industries froze its plans to expand in Egypt and Libya due to the political status quo, said chairman Adel Al-Sobeh.

Al-Sobeh added that the company seeks to increase the capital of its subsidiary, National Ceramic Industries, to KWD 15 million from KWD 5 million.

“The global financial crisis affected the company. National Industries did not get its provisions which were hoarded during the crisis,” concluded the chairman.