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Monday, 13 July 2020

Privatization cometh for Food Industries Holding Co factories?

PRIVATIZATION WATCH- Privatization cometh for Food Industries Holding Co factories? The Supply Ministry is looking at potentially selling off some of the Holding Company for Food Industries’ factories as part of the government’s plans to develop and restructure state-owned enterprises, Minister Ali El Moselhy tells the local press. According to El Moselhy, the ministry plans to consolidate five factories into two or three facilities before offering them for sale. The ministry had contracted auditing and consultancy firm BDO earlier this year to offer financial advice on restructuring and developing five companies: Alexandria Oil and Soap; Tanta Oil and Soap; Nile Company for Oil and Detergents; Abo El Hol Company for Oil and Detergents; and the Egyptian Starch, Yeast, and Detergents Company.

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