Egyptian Steel

Egyptian Steel
Founded Cairo, Egypt, 2010
Founder Ahmed Abou Hashima, co-founded by Shiekh Mohamed bin Suhaim Al Thani
Products Steel production and steel products (rebar, wire rods and billets)
Website www.egyptian-steel.com

Egyptian Steel is a manufacturer of steel and steel products that was founded in 2010 and is headquartered in Cairo, Egypt.[1][2] The company was co-founded by Ahmed Abou Hashima and Qatari investor Shiekh Mohamed bin Suhaim Al Thani.[3][4] Ahmed Abou Hashima is the company's CEO. Egyptian Steel is the holding company for National Port Said Steel, IIC for Steel Plants Management and Al Khaleeg Trading for Building Material.[5]

Production

The company manufactures steel and steel products such as rebar, wire rods and billets.[6]

As of October 2013, Egyptian Steel produced approximately 300,000 tons of steel annually at its Port Said plant.[1]

Business

In September 2012, Egyptian Steel and Danieli SpA signed a $210 million (Egyptian pound), (USD $34.5 million) agreement for Danieli SpA to provide production lines for Egyptians Steel’s plant in Ain el-Soukhna.[3][7] The agreement also provide production lines for National Port Said Steel Co.[7] It was estimated that the agreement would create 20,000 new jobs.[7]

In March 2012, Egyptian Steel and Danieli SpA entered into an agreement to build "the largest industrial complex in the Middle East and North Africa region for the production of re-bars and billet" in Beni Suef.[3] The Beni Suef location, along with another new location in Ain Sukhna, are estimated to begin production sometime in early 2015.[1]

Planned IPO

Egyptian Steel plans on offering an initial public offering for the public to purchase company shares sometime in 2015.[1]

References

  1. 1 2 3 4 REUTERS SUMMIT-Egyptian Steel eyes leap in capacity, IPO | Reuters
  2. ↑ Head Office - Contact
  3. 1 2 3 Egyptian Steel signs $ 210 million deal with Danieli - Daily News Egypt
  4. ↑ Gamble pays off for Egyptian Steel founder | The Times (subscription required)
  5. ↑ Group Structure - About Us
  6. ↑ Products
  7. 1 2 3 Egyptian Steel, Danieli Sign Plant Supply Contract, MENA Says - Businessweek

Further reading

External links

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