Cairo - Mubasher: Suez Cement announced that its board of directors (BOD) has decided to dissolve and liquidate its subsidiary Al Madinah International for Precast Concrete Company in Saudi Arabia.

Suez Cement said in a statement to the Egyptian Exchange (EGX) on Monday that it has delegated the CEO, Jose Maria Magrina to take the necessary actions.

The statement also noted that the BOD has approved the consolidated and independent financial statements for the period that ended on 30 June 2017.