18/02/2003
Al-Gomhoria Newspaper 2003/FEBRUARY /18
The Chamber of Engineering Industries has been holding several meetings to tackle the shortage of iron sheets in the Egyptian market. Some ascribe it to some iron-producing companies‘ intention to monopolize the iron market. In the meantime, a few appliances are starting to lack, and several proposals have been put forward to try to stop the situation from getting worse. Meanwhile, the crisis has brought some companies to the brink of bankruptcy. (Available in Arabic – German in PDF )
The market has been ravaged by a crisis in the production of iron sheets. The shortage of this commodity has heavily affected most local companies manufacturing it, bringing some of them on the brink of bankruptcy, causing a shortage of some appliances, and pushing prices up. The Chamber of Engineering Industries has held several meetings to discuss this problem and put forward some solutions. Some of its members, like Dr. Nader Riad, called for some of the companies producing iron sheets to sell them to local factories, instead of just exporting them abroad. Yet, these companies, such as the Iron and Steel Company, refused, and this fed the accusations that they just wanted to monopolize the iron market in Egypt.