Egyptian Iron and Steel announces the schedule for completing the liquidation works
The Egyptian Iron and Steel Company announced the schedule for appointing the liquidator or liquidators for the company, and the date for the completion of the liquidation works.
The company said in a statement to the Egyptian Stock Exchange that the liquidator is expected to be appointed immediately on Monday, May 31, 2021, and the liquidation will be marked in the commercial register of the divisive company within 3 years from the date of the publication of the decision to appoint the liquidator.
The company added that it is expected that the business of the liquidator will be completed and the liquidation works will be completed within two years from the date of marking the liquidation in the commercial register.
During the first 9 months of the current fiscal year, the company achieved losses amounting to 724.14 million pounds during the period from July to the end of last March, compared to losses amounting to 783.84 million pounds during the same period of the previous fiscal year.
The company’s revenues declined during the nine months to record 776.22 million pounds by the end of March, compared to 859.35 million pounds during the same period last fiscal year.