Arab Finance: Agro New Vision Distribution Company increased its stake in the company Misr Beni Suef Cement (MBSC)to 12.03%, in a deal worth 174.9 million pounds, according to statement Egyptian Stock Exchange.
Agro New Vision owned 5.9% of the company's shares, and bought a share of the National Investment Bank's shares in the cement company after selling 3.65 million shares in a deal worth 171.6 million pounds, which led to reducing its stake in the company to 9.99%, according to statement Another for the stock market as well.
On the results of its operations for the financial period ending in 30/06/2024which showed achieving a net profit of 221,523 million pounds, compared to the company achieving a net profit of 104,851 million pounds during the same period of the previous year.
The company was established in 1997 for the purpose of producing all types of cement (clinker – packaged – bulk) or materials associated with it in various stages, as well as its packaging materials and the production of building materials and construction supplies. It is based on the production of cement products through two production lines: The first line: The contract was concluded to supply and install the equipment and machinery necessary to operate the factory (the first production line) in 1998 AD, and actual production began at the beginning of 2003, with a production capacity of one and a half million tons annually. The second line: Contracts were signed to supply and install equipment and machines to increase production capacity in 2006 AD by operating a new production line to obtain greater production capacity to cover the needs of the local and global market. The new line’s equipment was operated and production began in 2010 AD, with a total capacity of one and a half million tons annually.
Related news
