ArabFinance: Vazhmash’s offer to revive the Egyptian Iron and Steel is under study by Metallurgical Industries Holding Company (MIHC), Khaled El Feky, a board member at Egyptian Iron and Steel said to Enterprise.
The offer is due to be reviewed today, and might be discussed by Egyptian Iron and Steel’s board of directors as early as tomorrow, El Feky said.
Egyptian Iron and Steel, which is currently undergoing liquidation, said last week it received a bid from a Ukrainian company looking to revamp its facilities under a revenue sharing partnership instead of pushing ahead with a liquidation plan.
ESIC, an affiliated company of Metallurgical Industries Holding, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products. The company provides two product segments, major products, and other Products.
