Displaying items by tag: Egypt

Egypt: Three bondholders in precast concrete products company Consolis plan to convert their bonds into shares in a new company that will operate as sole, outright owner of Consolis. Contrerian Capital Management, Squarepoint Ops and Albakor Capital informed the Egyptian Competition Authority of their intentions on 17 October 2024.

Egypt: France-based Saint-Gobain has obtained outright ownership of mortars producer United Paints and Chemicals (Drymix). Saint-Gobain paid US$25m for the acquisition, according to Business News Africa. Drymix operates the 240,000t/yr ‘6th of October City’ mortar plant in Giza Governorate.

Saint-Gobain operates two other building materials plants in Egypt, in Alexandria and Monufia Governorates.

Egypt: LafargeHolcim Egypt supplied 8200t of its ECOPlanet reduced-CO₂ cement for construction of Alamein Downtown Towers in Alamein City. The producer said that the cement reduced the project's carbon footprint by 45% compared to ordinary Portland cement (OPC). The government contracted China-based China State Construction Engineering Corporation for construction of the five-tower development. Three of the buildings will be residential, while the remaining two will house business and events facilities.