Al Ezz Steel Rebars S.A.E. (Ezz Steel), the largest independent producer of steel in the MENA region and market leader in Egypt, today announced that on the 9th of September 2007, Ezz Steel and its subsidiaries presented an offer to acquire a minimum of 83% and up to 100% of the equity of Arcosteel, a special steel producer located in Sadat City.
In 2006, Arcosteel produced approximately 150 thousand tons of special steel mainly directed at the export market.
The Government's interest in Arcosteel has been offered for sale as part of the Government's privatization program and the last date for submitting offers was 9th of September 2007.
Ezz Steel has been notified that a final decision on the successful bidder will be taken on the 30th of September 2007.
Due to the confidential nature of the bidding process, no further details of the bid can be disclosed at this stage.
Browse
related articles
Ezz Steel announces submission of bid to acquire Arcosteel
- Egypt: Monday, September 10 - 2007 at 13:53
- PRESS RELEASE
Al Ezz Steel Rebars S.A.E. (Ezz Steel) and its subsidiaries presented an offer to acquire a minimum of 83 percent equity of Arcosteel, a special steel producer located in Sadat City.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Log in to request more information from Ezz Steel
Notes and media contacts
About Al-Ezz Steel Rebars Co. S.A.E.Al Ezz Steel Rebars (Ezz Steel) is the largest independent steel producer in the Middle East and North Africa, with a total actual capacity of 5.3 million tonnes of finished steel per annum in 2006. It is the Egyptian market leader with over 65% market share in terms of sales.
In the first six months of 2007, it produced 1.5 million tonnes of long products (typically used in construction) and 834 thousand tonnes of flat products (typically used in consumer / industrial goods). Ezz Steel's customer base is geographically diversified, with flat products mainly directed to export markets, whereas long products are typically sold in the local and regional markets. More than 70% of its plants are less than 10 years old using the latest in modern steel making technology.
Nicholas Bastin
Director
Capital MSL
81 Whitfield Street
London W1T 4HG
t. +44 (0) 20 7255 5117
w: http://www.capitalmsl.com
Capital MS&L Limited. Registered in England and Wales. Registration Number 4131534. Registered Office: 22 Great James Street, London WC1N 3ES.
Posted by Lara Lynn Golden, News EditorMonday, September 10 - 2007 at 13:53 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds