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Egyptian Iron and Steel Company approves bidding for selling scrap items

The Board of Directors of Egyptian Iron and Steel Company decided to launch a public bid through sealed envelopes, for the sale of scrap items.

The company clarified in a statement to the Egyptian Stock Exchange, today, Wednesday, that the scrap items are scrap railway tractors, scrap cars and car bodies, scrap equipment (loaders – dumpers – forklifts – winches – etc.), and various scrap items and stagnant from the warehouse sector (files of various sizes) .

In the first quarter of the current fiscal year, Egyptian Iron and Steel Company achieved losses amounting to 274.48 million pounds during the period from January to last September, compared to losses of 367.8 million pounds in the comparative period from 2019-2020.

The company’s sales declined during the first quarter of the current fiscal year to 237.72 million pounds, compared to sales of 280.31 million pounds in the comparative period of the last fiscal year.

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