Egyptian Iron and Steel (IRON)

Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) approved the financial position for the period ended 31 May and the liquidation balance from 1 January to 31 May with a net loss of EGP 590.31 million.  …

Cairo – Mubasher: Egypt's Minister of Public Business Sector, Hisham Tawfik, and Minister of Manpower, Mohamed Saafan, witnessed the signing of an end-of-service benefit agreement with the employees of the under-liquidation Egyptian Iron and Steel …

Cairo - Mubasher: The Egyptian Iron and Steel (Hadisolb) has received a technical and financial offer from a Ukrainian company to rehabilitate, develop, and manage the steel manufacturing firm, currently under-liquidation, under a revenue-sharing …

Cairo – Mubasher: The board of directors of Iron and Steel for Mines and Quarries approved the establishment of a cost centre for the semi-industrial iron concentration unit in Bahariya Oasis in partnership with a Ukrainian company. Operations at …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) has appointed Mostafa Hassan Mahmoud Omar, the former liquidation consultant at the Metallurgical Industries Holding Co, as a liquidator as of 31 May. The Metallurgical Industries Holding Co …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) suffered net losses of EGP 724.14 million in the first nine months of fiscal year (FY) 2020/2021, down by 7.6% year-on-year (YoY) from EGP 783.84 million, the unaudited financial results …

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee decided to slash the issued capital of the Egyptian Iron and Steel (Hadisolb) as a result of the company’s decision to spin out its mining operations to Iron and Steel for Mines and …

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of shares of Iron and Steel for Mines and Quarries, the spinoff company of the Egyptian Iron and Steel (Hadisolb). The company’s shares will be listed with an …

Cairo – Mubasher: The Egyptian Exchange (EGX) decided to suspend trading on the shares of the Egyptian Iron and Steel (Hadisolb) starting from Tuesday’s trading session, according to a statement. On Monday, Hadisolb submitted a request to halt …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) submitted a request to halt trading on its shares starting from the trading session on Tuesday, 25 May, to allow the company to spin out its mining operations to Iron and Steel for Mines and …

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the registration of Iron and Steel for Mines and Quarries, the spinoff company of the Egyptian Iron and Steel (Hadisolb). The authority also approved the publication of …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) said that its parent company, Metallurgical Industries Holding Co, terminated discussions over an offer submitted by Sahara Group to finance the development of the iron and steel plant. …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) generated EGP 816.24 million in commercial activity revenues during the first 10 months of fiscal year (FY) 2020/2021. Local sales reached EGP 70 million during March and no exports were …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) denied news reports about receiving a letter of guarantee worth $400 million from Sahara Group. Sahara Group has neither submitted the required documents nor presented the foreign technical …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) generated EGP 682.8 million in activity revenues during the first eight months of fiscal year 2020/2021. Local sales amounted to EGP 45 million during January and no exports were reported …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) achieved EGP 619.05 million in activity revenues during the first seven months of fiscal year 2020/2021. Local sales and exports amounted to EGP 107 million during December 2020, the company …

Cairo – Mubasher: The financial indicators of the Egyptian Iron and Steel (Hadisolb) showed net losses of EGP 437.05 million in the first half (H1) of fiscal year 2020/2021, down by 8.6% year-on-year (YoY) from EGP 478.18 million. The steel …

By: Heba El-Kordy  Cairo – Mubasher: The stock of the Egyptian Iron and Steel (Hadisolb) lost about 40.2% since the announcement of its liquidation decision on 13 January. At the end Wednesday’s trading session, Hadisolb’s fell by 5.51% to EGP …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) achieved EGP 554.87 million in activity revenues during the first half (H1) of fiscal year 2020/2021. In addition, local sales and exports amounted to EGP 116.3 million in the July-December …

Cairo – Mubasher: The Egyptian Ministry of Public Business Sector reviewed the attempts made to prop up the loss-making Egyptian and Iron Steel (Hadisolb) before the liquidation decision. In 2014, the company’s parent, Metallurgical Industries …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) announced the proforma financial statements of the demerged and resulting companies for fiscal years 2017/2018, 2018/2019, and 2019/2020. The equity rights of the resulting company amounted …

Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) approved the disposal of several land plots to settle debts owed to Metallurgical Industries Holding Co and Banque Misr, and part of the debt owed to …

Cairo – Mubasher: The Egyptian Exchange (EGX) announced the halt of trading on the shares of the Egyptian Iron and Steel (Hadisolb) pending an announcement of the extraordinary general meeting’s (EGM) decisions. Trading on the company’s shares …

Cairo – Mubasher: The extraordinary general meeting (EGM) of the Egyptian Iron and Steel (Hadisolb), a subsidiary of the Ministry of Public Business Sector, decided to liquidate its steel plant and spin off its mining operations, Ahram Gate …

Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) approved valuation reports of its land plots as part of a debt settlement process. These lands have been valued based on debt settlement protocols between Hadisolb, Metallurgical Industries …