Three Egyptian textile companies to be sold in the next three months

The Egyptian holding company for textiles and trade decided to raise three governmental textile companies for sale during the next three months.

These companies are Shbeen El-Kom for fabrics and textiles, Stea for textiles and El-Wadi for cotton, which will be sold to a main investor, said Adel Yassin, head of the economic sector in the holding company.

He added that 9% of the three companies' shares will be sold.

Yassin said the three companies achieved sales during last year in Shbeen El-Kom and Stea worth 12 million pounds, while in El-Wadi sales reached 7 million pounds.