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A report released by the union committee of the Misr Iran Company, a cotton, textile and textile holding company, reveals that the company's losses and debts have risen from 135 million pounds in 2009 to 380 million pounds last year nearly 300%. The report added that the debt has increased despite the capital increase of 78 million pounds in 2009 and the sale of the station for employees of the company 76 million pounds by direct order without an auction by the President Sami Abu Shadi.
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The report stated that the company had stopped for one year from 23/6/2015 to 18/6/2016 and was operated after agreement with the union committee and some workers, provided the workers right Stressing that 22.5 million pounds were pumped to run the business, the machines began to be disrupted, then the factory was completely shut down and 50 spinning machines were deactivated, 1 were transferred to the rest of the machines and 60 were turned into spare parts. Scrap and began selling machines by direct order knowing that the company was sending maintenance and electrical technicians to run it © Al – Youm Al – Sabea 2018
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