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Egypt - Largest food company decides to close 450 factories/outlets due to "lawlessness" - losses mount for all manufacturers as pound looses 25% of its value

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  • Egypt - Largest food company decides to close 450 factories/outlets due to "lawlessness" - losses mount for all manufacturers as pound looses 25% of its value

    machine translation

    Decision to close "Faragllo" reveals stopped 450 factory in Borg El Arab because lawlessness .. And contacts of "liberty and justice" to discourage "Amer" for resolution .. The warnings of vibration food market
    Thursday, February 21, 2013 - 12:59

    Mohamed Farag Amer
    Posted - allow Labib - Medhat just - Slim

    Rolled Thursday angry reactions on the announcement businessman Mohamed Farag Amer Prime Investors Association Burj Al Arab to close factories group Farajallah, said Dr. Tarek Gad Vice President Investors Association Burj Al Arab, that there are contacts underway of Freedom and Justice party and businessman Mohamed Farag Amer Prime Investors Association Burj Al Arab, in order to discourage him from the decision to close a Farajallah. added serious in a statement to "The Seventh Day", that the decision Farag Amer came despite his participation two days before the meeting, which called him Dr. Mohamed Morsi president with the business in Palace federal, pointing out that show the problem of workers on the president and promised to solve the problem, and the next day decided to close the factory. noted serious that Farag Amer subjected to great pressure from workers for a long time, but some workers have gone to the extent of threatening to claim their rights by force, which What prompted him to the decision to close the group, especially in light of the absence of security presence to enforce discipline. and Deputy Prime Investors Association Burj Al Arab, that the last period saw close at least 450 plants, and for reasons of the problems workers or security and financial,

    and added seriously that a large number of the total closed factories a Turkish investments, pointing out that there is another group of plants is considering taking this step seriously, because of the security situation and economic instability.

    explained Gad, that a large number of factories under pressure of great economic, especially with the rise in the dollar exchange rate against the pound Almasra, which resulted in higher prices supply of raw materials from abroad by not less than 25%, and therefore the consequent bearing factories losses for continued work. in the same context, warned Mohammed Hussein Jennita, Captain industrial investors, the impact of the decision businessman Mohamed Farag Amer, close all the company's factories until stability internally, stressing that the businessmen are subjected to great pressure during the current period of strike workers and rising prices of all inputs of energy, electricity and other pressures that hinder and promote the economy as a whole. added Geneidi in a special statement for "today VII, "the Board of Directors of the Association will hold a meeting next week to discuss the obstacles, facing manufacturers during the current period, pointing out that most manufacturers have declared suspension of work in factories because they are exposed to losses. , said Dr. Munir Masood Abdul Majeed, a member of the Board Exporting for Food Industries, a manufacturers of food products in Egypt, that the closure of a group of companies Farajallah, will lead to the destabilization of all the factories and manufacturers in Egypt, which lacks a security. added Massoud told the "seventh day", the company Farajallah of the largest Egyptian food companies in Egypt, can not be closed without any solutions in Egypt to restore security is located, as the closure would befall Egyptian factories with closure in the event of continued adverse conditions.

    بوابة اليوم السابع الاخبارية تقدم احدث واهم اخبار مصر على مدار اليوم كما نقدم اهم اخبار الرياضة والفن والاقتصاد والحوادث
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