Latest news with #Ataqa
Zawya
3 days ago
- Business
- Zawya
Egypt: Ataqa turns profitable with $1.29mln in H1 2025
Arab Finance: Misr National Steel (Ataqa) turned to net profits valued at EGP 62.330 million in the first half (H1) of 2025, against net losses of EGP 41.664 million in H1 2024, the financial results revealed. Earnings per share (EPS) reached EGP 0.052 in the January-June 2025 period, compared to a loss per share of EGP 0.035 a year earlier. The sales increased to EGP 4.137 billion in H1 2025 from EGP 2.116 billion in the first six months of 2024. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Egypt Today
10-03-2025
- Business
- Egypt Today
Al-Organi Group and El-Garhy Group Forge Strategic Industrial Partnership
Al-Organi Group and El-Garhy Group have announced the signing of a Memorandum of Understanding (MoU) between ODI, a subsidiary of Al-Organi Group, and Al-Wahda for Industrial Development, a subsidiary of El-Garhy Group. Under this agreement, ODI will acquire 26.25% of the Misr National Steel Company, Ataqa, after completing due diligence and obtaining approvals from regulatory bodies and the Egyptian Competition Authority. This acquisition aligns with Al-Organi Group's strategy to expand its activities in collaboration with leading industrial entities like El-Garhy Group. Both parties are currently exploring several opportunities for collaboration in the chemical and building materials industries, supporting the national agenda to localize the Egyptian industry. The valuation of Misr National Steel, Ataqa, was set at 7.24 billion Egyptian pounds, and Al-Organi Group agreed to acquire 26.25% of its shares for 1.9 billion Egyptian pounds. In this context, Captain Essam Al-Organi, CEO of Al-Organi Group, stated: 'We aim to complete all legal procedures and due diligence as soon as possible. Our vision is an ambitious strategic plan aimed at achieving comprehensive and sustainable development by supporting local industries and diversifying the Egyptian economy. This will reinforce Egypt's position on the global industrial map.' Al-Organi Group is actively implementing its expansion strategy across multiple sectors, aligning with Egypt Vision 2030, which focuses on sustainable economic development. Meanwhile, Mohamed El-Garhy, vice chairman and managing director at El-Garhy Group, emphasized that the partnership with Al-Organi Group, as a diverse national economic entity, will contribute to expanding industrial activities for both groups and boosting local production. He described this partnership as a key step towards industrial integration and enhancing Egypt's productive capabilities, in line with the Group's strategy to diversify investments and partnerships. Al-Organi Group invests in a wide range of companies across multiple sectors, including construction, real estate, ready-mix concrete, exports, trade, transportation, hospitality, tourism, and maintenance. Since its establishment, the group has been dedicated to expanding its presence in the Egyptian economy, developing businesses, and providing world-class services across different sectors. The group's commitment to excellence has contributed to the success of several leading companies in Egypt. Today, Al-Organi Group is one of the largest and most diversified holding companies in Egypt, creating thousands of job opportunities while continuing its journey of growth and supporting the Egyptian economy in line with Egypt's 2030 development plan.
