Sylvain Milan, vice president of the United Nations organization UNDP, went to…
Metallurgical Industries Holding Co.
The Holding Company for Metallurgical Industries aims at maximizing the profitability of the subsidiaries with outstanding performance and speeding up the losses of the losing companies and converting them to profitability while exploiting the relative advantages enjoyed by each company within the framework of the comprehensive vision of the economic reform. The company adopts an approach to modernization and development to cope with the accelerating challenges and global competition To become one of the leading national companies locally, regionally and globally.
Establishment Metallurgical Industries Holding Co.
The Metallurgical Industires Holding Company was established by decree No.429 of 1983 under the name of the Public Sector Authority for Metallurgical Industires. In accordance with the provisions of the public sector companies law No. 203 of 1991 and its implementing regulations, the Metallurgical Industires Holding Company replaced the Public Sector Authority for Metallurgical Industires as an Egyptian Holding Joint Stock Company.
To be a leading institution in the forefront of the industrial and investment sector in terms of size, revenue, quality and growth rates, profitability and competitiveness to be in the forefront locally and to occupy a distinguished position and reputation in the global markets.
The Holding Company for Metallurgical Industries aims at maximizing the profitability of the subsidiaries with outstanding performance and the speed of stopping the losses of the losing companies and turning them into profitability with good utilization of the comparative advantages enjoyed by each company within the framework of the comprehensive state vision for economic reform. To become one of the leading national companies locally, regionally and globally.
The company works to add value to Egyptian raw materials in order to achieve comprehensive and sustainable development and achieve good financial returns to the state through subsidiaries or partnership with other companies.
The Holding Company for Metallurgical Industries is affiliated with 15 active companies and one company under liquidation.The total investment of subsidiaries is about LE 7.1 billion as of June 30, 2018, in addition to total exports of approximately LE 11.2 billion. It also has investments in 12 joint companies, about 565 million pounds, and the total investment income from these companies in 2017/2018 about 1.8 billion pounds, or 23.2%. This is in addition to LE 29.5 million investments in one company under liquidation.
- Misr Aluminum Company
- El Nasr Automotive Manufacturing Co.
- El Nasr Glass & Crystal Co.
- Alexandria Co. For Refractories
- The General Co. for Ceramic and Porcelain Products (SHEENI)
- El Nasr Mining Co.
- Nasr Forging Co.
- El Nasr Co. for Coke & Chemicals
- Egyptian Ferro Alloys Co.
- The Egyptian Company for Metal Construction (METALCO)
- Egyptian Copper Works
- Delta Steel Mill Company
- El Nasr Steel Pipes & Fittings Co.
- Egyptian Iron & Steel
- Engineering Automotive Manufacturing Co. (EAMCO)
A sustainability strategy has been developed to achieve the three elements of the sustainability concept: better environmental protection, enhanced social responsibility and better governance of funds. The company has taken several steps to implement this strategy as follows:
- The value of environmental conservation and social responsibility projects reached LE 90 million.
- Supporting the students of the Faculty of Engineering in Cairo in a global competition for the aviation industry, whether by honoring them or by agreeing to help them by providing the necessary means to realize their ideas.
- Misr Aluminum Company: Work environment service projects for LE 745 thousand (Natural Gas Delivery Project).
- Ferroalloys Company: Implementing environmental protection projects with investments of more than LE 5 million.