Chemicals News
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Pachin stock closes near highest acquisition bid price
The company’s stock closed near the highest bid price, reaching EGP 39.08 per share, by the end of Wednesday’s trading session.
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Egypt: Sidpec announces 2022 cash dividends
Sidpec will pay out EGP 0.50 per share on 17 May, while the remaining EGP 0.40 will be disbursed on 4 October 2023.
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Competition for Pachin acquisition sparks controversy over fair value of its stock
National Paints is competing against Eagle Chemicals which increased its offer to about EGP 39 currently.
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Egypt's TCI Sanmar Chemicals plans $15mln investment in 2023
The company, a part of India’s Sanmar Group, is a significant player in Egypt’s petrochemical industry.
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Egypt’s Eagle Chemicals raises offer for Pachin amid bidding war with UAE’s National Paints Holding
Eagle Chemicals is now offering to purchase at least 75% of Pachin for EGP 37.00 per share, EGP 1.00 higher than the bid NPH put.
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UAE's National Paints acquires Pachin's shares at LE816M
Pachin shares rose by 4.3 percent, to LE 32.32, in the middle of Sunday's trading, after the approval to publish the purchase offer announcement.
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Egypt’s Military Production Ministry, Indian Foamtech probe joint cooperation
Foamtech manufactures, exports and supplies ABC dry chemical powder fire extinguisher, fire alarm, hose reel, foam concentrates and allied products.
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Diplomats visit fertilizer plants in Egypt
Egypt has ambitious plant to cater to the fertilizer demand of several countries and support the efforts for the global food security.
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Romanian PM Ciucă talks gas, fertilizers with Egyptian officials
Romania also aims to meet its natural gas consumption needs using Egyptian liquefied natural gas terminals until it can extract from Black Sea.
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SEMADCO on radar of Gulf investors
Egypt is seeking to sell a stake in El-Nasr Fertilizers and Chemical Industries Company (SEMADCO) to a strategic investor from the Gulf.
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Abu Qir Fertilizers’ profits hike to $381mln in H1-22/23 unaudited financials
Furthermore, the earnings per share (EPS) soared by 124.88% to EGP 4.79 in H1-22/23 from EGP 2.13 in H1-21/22.
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Misr Chemical Industries posts 191% YoY profit hike in 6 months
Sales totaled EGP 455.84 million in the six months to December 31st, 2022, up from EGP 270.56 million in the same period of FY 2021/2022.
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Egypt’s chemicals exports grow 23% in 2022
The chemicals sector accounted for 24% of Egypt’s total non-petroleum exports.
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SIDPEC intends to implement acquisition of Ethydco in 3Q 2023
The Board of Directors of SIDPEC approved the operating budget for the fiscal year 2023, with targeted profits after tax of EGP 889.642m.
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India to secure fertiliser raw material from Morocco, Egypt
Indian companies are expected to set up DAP and NPK plants in both countries.
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Cairo for Oils' 2022 sales surpass expectations by 15%
In October, a company filing showed a sales expectation of EGP 200 million for 2022.
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Compass Capital joins race to acquire Pachin
Compass Capital aims to acquire a stake of no less than 51% and up to 90% of the targeted company's capital.
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Saint-Gobain strengthens its presence in construction chemicals in Brazil and in Egypt
Saint-Gobain, through its Chryso business, completed the acquisition of Matchem Brazil and entered exclusive negotiations to acquire IDP Chemicals.
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Industry Minister: Singaporean company plans to establish fertilizer plant in SCZone
The minister stressed that his ministry welcomes Singaporean companies wishing to inject new investments into the Egyptian market.
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Pachin reports 422% YoY higher consolidated profit in 3 months
Paints and Chemical Industries is an Egypt-based public shareholding company engaged in the production, marketing, and distribution of paints.