Cairo – Mubasher: Middle East Glass Manufacturing Co has reached a final agreement to sell its subsidiary Medco Plast for Packing and Packaging Systems. 

Under the deal, the company will be sold at a price of EGP 230.16 per share, according to a bourse disclosure on Tuesday. 

In the first nine months of 2021, Middle East Glass Manufacturing Co reported consolidated net profits of EGP 164.21 million, a leap of 1,172% year-on-year (YoY) from EGP 12.9 million, including minority shareholders' rights.