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Egypt Aluminum resumes operations at all facilities

Egypt Aluminum resumes operations at all facilities
Employees held a strike asking for profit-related bonuses
Egypt Aluminum
EGAL
-0.65% 13.79 -0.09

Cairo – Mubasher: Egypt Aluminum said that the metal drawing process has been resumed at all facilities, according to a bourse disclosure on Wednesday.

Earlier, the company said that employees held a strike and halted production asking for profit-related bonuses.

The aluminium manufacturer said it is currently negotiating with the employees to end the strike and confirmed that the production process, except for the metal drawing, hasn’t been affected by the strike.

During the first quarter (Q1) of fiscal year 2020/2021, the company reported net losses of EGP 150.9 million, down from EGP 277.8 million in the prior-year period.