Company liquidator for Masrawy: Refinement of cement national asset inventory within two weeks
2:45 a.m. Friday, November 9, 2018
I wrote – Shaima Hafezi:
Abdulnabi Faraj, who was responsible for the liquidation of the National Cement Company, told Lamraoui that the inventory of the company's assets would be completed within two weeks in preparation for the sale.
Liquidation of the National Cement Company, the holding company for the chemical industry, after the extraordinary general assembly decision, began the company's liquidation earlier this month.
Faraj explained that after the completion of the inventory, the company's Mediwins would be reviewed and audited for the benefit of various entities and began offering equipment for sale to provide the liquidity needed to complete the video.
"The start will be the sale of equipment and not land. Priority in sales will be the Military Production Department in accordance with the decision of the Council of Ministers, and if the Ministry does not want equipment, it will be sold at auction," Faraj said.
The liquidation decision, which was approved by 99.4% of the shareholders, was largely controlled by the Chemical Holding Company, ending the company's work, which had been established since 1956.
"It is not acceptable to continue to freeze losses in any company," Emaduddin Mustafa, chairman of the holding company, told Reuters. "Companies have the courage to make decisions that are required by law to stop losses in companies that are not worth investing."
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