Egyptian private equity firm Citadel Capital has agreed to pay $63m for a 35% stake in Misr Glass Manufacturing, reported Reuters. Misr plans to raise its capacity to 224,000 tonnes per year by the end of 2008 from 110,000 per year currently. Hisham el-Khazindar, Citadel's managing director, said the region has a 'competitive advantage' in glass manufacturing due to the energy and labor-intensive nature of the industry.
[AMEInfo.com]



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Posted: 09|12|07 at 6:57 am. Filed under: News.