CIHC plans to reduce losses recorded by six subsidiary companies, including the General Company for Paper Industry, Moharem Press, Transport and Engineering Co, El-Nasr for Rubber Products, El-Nasr Transformers and Electrical Products, and Egyptian Co for Pipes and Chemicals.
On 3 March, CIHC received a letter from Tecnimont informing the former that the KIMA Fertilizers restructuring project contract would be terminated, as KIMA withdrew the money owed to them.
Following the presentations the CIHC
will hold its annual general meeting.
El-Adl said CIHC aims to register EGP 431m in net profits, up from EGP 411m in actual net profit in fiscal year (FY) 2013/2014.
2bn compared to EGP 500m, with CIHC eyeing EGP 725m in exports compared to EGP 629m previously, El-Adl said.
The representatives met with CIHC
leaders, repeating their statements regarding desire of the parties to implement the court ruling.
Biodev Inc was founded in Montreal in 2002 with the mission of internationally marketing products, technologies and expertise related to Life Sciences, primarily in the human and animal biotechnology sectors, www.
The acquisition also stands to produce significant positive impact on our revenues out of the business agreements already signed by CIHC
, which will be publicly disclosed in coming weeks.
General Unsecured Claims will receive approximately 1.
surplus debentures issued to its parent, CIHC
The company has a significant portion of its capital in surplus debentures issued to its parent, CIHC
5 million, which were purchased by CIHC
, Incorporated ("CIHC
"), a wholly-owned subsidiary of Conseco.