Strikes end at Egypt's Misr Cement, factories reopen

Ahram Online, Monday 31 Oct 2011

Cement-maker announces restart of full production after workers' protests for higher wages draw to a close

Egypt's Misr Cement Qena has resumed production at all its factories after employees ended their strike and returned to work, the firm announced in a statement to the stock exchange on Monday.

The statement gave no indication of whether a deal had been reached between management and disgruntled employees.

The cement producer shut all but one of its factories on Sunday in response to a new wave of industrial action by workers demanding higher wages.

Ahmed Imam, an official at Misr Cement, told Reuters the firm was operating a single factory with production capacity of 5,400 tonnes of cement per day.

On Sunday, Misr Cement announced that its nine-month net profit for 2011 had fallen to LE263.7 million, down 16 per cent from a year earlier.

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