Chemicals News
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SEMADCO on radar of Gulf investors
Egypt is seeking to sell a stake in El-Nasr Fertilizers and Chemical Industries Company (SEMADCO) to a strategic investor from the Gulf.
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Abu Qir Fertilizers’ profits hike to $381mln in H1-22/23 unaudited financials
Furthermore, the earnings per share (EPS) soared by 124.88% to EGP 4.79 in H1-22/23 from EGP 2.13 in H1-21/22.
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Misr Chemical Industries posts 191% YoY profit hike in 6 months
Sales totaled EGP 455.84 million in the six months to December 31st, 2022, up from EGP 270.56 million in the same period of FY 2021/2022.
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Egypt’s chemicals exports grow 23% in 2022
The chemicals sector accounted for 24% of Egypt’s total non-petroleum exports.
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SIDPEC intends to implement acquisition of Ethydco in 3Q 2023
The Board of Directors of SIDPEC approved the operating budget for the fiscal year 2023, with targeted profits after tax of EGP 889.642m.
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India to secure fertiliser raw material from Morocco, Egypt
Indian companies are expected to set up DAP and NPK plants in both countries.
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Cairo for Oils' 2022 sales surpass expectations by 15%
In October, a company filing showed a sales expectation of EGP 200 million for 2022.
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Compass Capital joins race to acquire Pachin
Compass Capital aims to acquire a stake of no less than 51% and up to 90% of the targeted company's capital.
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Saint-Gobain strengthens its presence in construction chemicals in Brazil and in Egypt
Saint-Gobain, through its Chryso business, completed the acquisition of Matchem Brazil and entered exclusive negotiations to acquire IDP Chemicals.
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Industry Minister: Singaporean company plans to establish fertilizer plant in SCZone
The minister stressed that his ministry welcomes Singaporean companies wishing to inject new investments into the Egyptian market.
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Pachin reports 422% YoY higher consolidated profit in 3 months
Paints and Chemical Industries is an Egypt-based public shareholding company engaged in the production, marketing, and distribution of paints.
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Egypt's TCI Sanmar Chemicals Charts Plans $15mln Investment in 2023
The company, a part of India’s Sanmar Group, is a significant player in Egypt’s petrochemical industry.
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Misr Chemical Industries posts 174.6% YoY profit hike in 5 months
The company recorded a net profit of EGP 219.03 million in the five-month period ended November 30th.
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Egyptian government to inaugurate 6 nitrogenous fertilizers plants soon
Abou El Magd added that another for the manufacturing of chlorine and caustic soda is also under construction in Giza's Abou Rawash industrial zone.
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Egypt replaces Russia as fertilizer supplier to Europe
The council reported, citing a report by the European Commission, that fertilizer exports to Europe surged by 187.5%.
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Pachin to decide on the acquisition offer of National Paints in early January
Elite is in the process of finalising the fair value report for the company’s shares: Sources.
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Misr for Chemicals Industry starts construction of evaporators unit
The project is executed in partnership with the German engineering group thyssenkrupp.
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Honeywell develops first chemical recycling facility in Egypt
The MoU enables Environ to conduct a project feasibility study to explore trends, feedstock availability and potential markets.
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2nd round of Ezdehar programme kicks off
The programme is being implemented in partnership with the German Agency for International Cooperation (GIZ).
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Exports of chemicals sector up to $ 5.714B in 8 months
This is a rise of 31 percent compared with the same period last year.