29
Mar
09:58
Exports lift Ezz's 2017 sales, utilisation remains curbed
Ezz Steel operated in 2017 for the first time in several years without interruption to electricity or gas supply, and with full availability of foreign currency needed to import raw materials. However, restricted working capital as a result of the devalued Egyptian pound continues to curb capacity utilisation. The company hopes to resolve this in 2018.
The Egyptian steelmaker’s sales rose 3% on-year in 2017 to 4.5 million tonnes, driven by a 25% surge in f…
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