Cairo – Mubasher: Arab Engineering Industries announced that its board of directors approved entering into negotiations with banks and financial leasing companies to obtain credit facilities and loans.

The board decided to enter into talks with a financial leasing firm to secure a funding worth EGP 10 million in order to finance the investment cost of the purchase of a paint production line, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

It is noteworthy that during the first half of 2019, the company logged a profit of EGP 4.49 million, compared to EGP 3.19 million in the corresponding period a year earlier.