Egyptian Iron and Steel (IRON)

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News

9 October 2016 02:59 PM HADISOLB to continue selling at lower than cost prices

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) said on Sunday that its board has approved to renew the decision to sell some of the company’s products at a lower than cost price for a three-month period until December 2016. The execution of …

Corporate Actions

22 September 2016 00:31 PM HADISOLB adjusted financial results for FY15/16 reflect losses of EGP 615,554m

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said the adjusted financial statements for the fiscal year ended 30 June 2016 have reflected losses of EGP 615,554 million. The steel producer suffered losses of EGP 760,557 million for the …

Financial Results

19 September 2016 11:36 AM HADISOLB upcoming general meeting tackles company’ going concern

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said it would hold extraordinary general meeting on 27 September 2016, to discuss the company’s ability to continue operating. The meeting comes in the framework of the Egyptian capital market …

Corporate Actions

8 September 2016 02:56 PM HADISOLB appoints legal consultant to carryout restructuring procedures

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said it appointed Global Trust Legal Consultancy to carry out the needed procedures for its financial restructuring process. The company seeks to raise its issued capital by 100% from EGP 976.8 …

Corporate Actions

4 September 2016 02:18 PM HADISOLB mulls 7 restructuring plans

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) is going through seven offers for examining the technical, financial and marketing aspects for restructuring, according to a bourse filing. The company has completed the specification for its …

Corporate Actions

23 August 2016 01:31 PM HADISOLB to double its issued capital to EGP 1.9bn

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said its board of directors gave a nod to increase its issued capital by around 100% from EGP 976.8 million to EGP 1.95 billion. The capital increase will be distributed across 488.4 million …

Corporate Actions

15 August 2016 01:55 PM HADISOLB's annual losses cut to EGP 586m

Cairo – Mubasher: Egyptian Iron and Steel’s (HADISOLB) annual losses shrank to EGP 585.76 million for the period ended on 30 June, compared with EGP 760.5 losses a year earlier, according to a bourse filing. Revenues for the fiscal year 2015/16 …

Financial Results

5 June 2016 01:39 PM HADISOLB records EGP 1bn ten-month sales

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said on Sunday that its sales in the domestic market reached EGP 1.02 billion during the period extended from the first of July 2015 to April 2016, according to a bourse statement. Further, it …

Financial Results

31 May 2016 10:25 PM Mitsubishi offers development of HADISOLB complex

  Cairo- Mubasher: Mitsubishi Heavy Industries, Ltd expressed its intention to develop Egyptian Iron and Steel (HADISOLB) complex by developing the company’s current firms and using modern technology, said Egyptian trade minister Tarek Qabil on …

Companies Investments

3 May 2016 11:30 AM HADISOLB logs lower losses in 9M

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) posted a slide of 19.7% year-over-year in its losses for the first nine months of 2015/16 to EGP447.6 million from EGP557.5 million, according to bourse filing. Moreover, its H1-15/16 losses …

Financial Results

17 February 2016 11:57 AM HADISOLB seeks to cut losses to EGP 401.6m in FY16/17

Cairo-Mubasher: Egyptian Iron and Steel Co. (HADISOLB) said its board of directors has approved is estimated budget for the fiscal year 2016/17, where it seeks to brought down its losses to EGP 401.6 million. The steel producer posted EGP 558.8 …

Financial Results

27 January 2016 01:26 PM HADISOLB suffers EGP 322.4m losses in 6M

Cairo-Mubasher: Egyptian Iron and Steel Co. (HADISOLB) posted 322.4 million in losses for the first half of the fiscal year 2015/16. The company logged losses of EGP 326.3 million for the same period of the previous fiscal year, according to a …

Financial Results

24 January 2016 11:44 AM HADISOLB says unhurt by Al Nasr Coke workers’ sit-in

Cairo-Mubasher: Egyptian Iron and Steel Co. (HADISOLB) is not impacted by the sit-in staged by the workers of Al Nasr Co. for Coke & Basic Chemicals, the company said in a bourse statement on Sunday. HADISOLB added that it started to import coke …

Management Decisions

13 January 2016 04:22 PM HADISOLB denies exporting steel to Turkey, Syria

Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) denied the new circulating that it has signed contracts to export 4.5 million tons of steel to Turkey and Syria in return for $1.5 million. Earlier, HADISOLB's board addressed the government to …

Companies Investments

4 January 2016 00:48 PM HADISOLB stocks hit nearly eight -month high

Cairo - Mubasher: The stocks of the Egyptian Iron and Steel (HADISOLB) advanced 9.9% on Monday. Today, the company's stocks hit its highest daily level since 18 May 2015, with 1.88 million shares changed hand worth EGP 9.3 million. HADISOLB stocks …

Companies Investments

29 December 2015 04:17 PM HADISOLB denies workers strike

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) denied the news circulating that the company's workers gone on strike, as they demand the distribution of annual dividends. The company confirmed that its production and sales operations are …

Management Decisions

29 December 2015 01:12 PM HADISOLB continues selling products at low prices

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) said its board of directors gave a nod to continue in selling the company's products at below-cost price. The firm will stop implementing this decision upon the recovery of the products prices. …

Management Decisions

22 December 2015 11:30 AM HADISOLB denies workers strike

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB)denied the news circulating that the company's workers were striking for dividends distribution and annual bonus. The firm affirmed that all of its production operations as well as sales …

Corporate Actions

1 December 2015 02:13 PM HADISOLB addresses gov't to protect steel's national industry

Cairo - Mubasher:The board of directors of Egyptian Iron and Steel (HADISOLB)addressed the government to protect the steel's national industry. The protection measures include limiting the exports of the steel and iron products, as well as …

Management Decisions

22 November 2015 10:36 AM HADISOLB logs EGP 104.15m losses in Q1

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) narrowed its losses by 16.6% for the first quarter of the fiscal year 2015/16. The company posted losses of EGP 272.6 in Q1-FY15/16, compared with EGP 408.36 million a year earlier. Meanwhile, …

Financial Results

1 November 2015 00:50 PM HADISOLB records EGP 58m sales in 3 months

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) posted EGP 57.9 million worth of sales for the three-month period ended September 2015. The company pointed out that these figures are limited to local sales only, as it did not record any …

Financial Results

12 October 2015 11:46 AM HADISOLB narrows losses by 45% in year

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) brought down its losses by 45% in the fiscal year 2014/15, the company said in a bourse filing posted Monday. HADISOLB suffered EGP 558.76 million in losses for FY14/15, down from EGP 1.25 …

Corporate Actions

1 October 2015 01:12 PM HADISOLB plans to import 50,000 tons of coal

Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) announced that it prepares to import 50,000 tons of coal for $10 million. The 50,000 tons of coal will be self-financed from the company's revenues, said a bourse statement. Meanwhile, the …

Companies Investments

30 April 2015 04:20 PM HADISOLB suffers EGP 557.5m losses in 9m

Egyptian Iron and Steel (HADISOLB) posted EGP 557.5 million in losses for the nine-month period ended March 2015, compared with EGP 666.1 million for the same period of the previous year Meanwhile, the company revenues reached EGP 1.1 billion …

Financial Results

6 April 2015 03:39 PM HADISOLB to get $420m makeover from Chinese firm

Egyptian Iron and Steel (HADISOLB) has signed a memorandum of understanding (MoU) with Chinese firm Sinosteel to restructure its development process, the company said in a bourse statement on Monday.The revamp will cost an estimated $420 million …

Company News