RENATIONALISATIONS COULD TRANSFORM EGYPT TEXTILE SECTOR
October 1st, 2010
BY MEGAN DETRIE
A KEY figure in the Egyptian textile industry has called on his government to invest in the two companies recently re-nationalised, following a court decision which ruled illegal their privatisation by the deposed Mubarak regime.
Judges said that the Shebin El-Kom Textile Company (which has major international clothing sector clients), and the Tanta Company for Linen and Derivatives (which does not sell to the clothing sector) had been sold off without sufficient due process, restoring the companies' ownership to the state. Shebin had been owned ...
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