Egypt’s Ezz Steel mulls acquisition and investment for growth strategy

Tuesday, 09 November 2021 16:19:43 (GMT+3)   |   Istanbul

In response to rumors regarding Egypt’s largest steel producer Ezz Steel’s intention to acquire a stake in an existing Egyptian steel producer, the company has stated that, once it makes an investment decision, it will disclose this after financial and legal due diligence of the target investment. 

According to the statement, Ezz Steel’s strategy for growth is based on constantly increasing capacities, either organically, or through investment in existing companies.

Regarding the company's internal investments, Ezz Steel is currently executing a project aimed at increasing its production capacity of molten steel. This therefore ensures continuation of production and export of flat steel, the company stated.

Most Recent Related Articles

Vallourec posts lower sales revenue for Jan-Sept

EU invests over €1.1 billion in seven decarbonization projects

Egypt’s safeguard cancellation reopens gate to billet imports while rebar trade to be more challenging

Canada’s Algoma Steel to build EAFs to replace BF steelmaking

ArcelorMittal to invest in Port-Cartier pellet plant in Canada