Iron and steel factories are considered one of the most important national symbols for thousands of workers and Egyptian families. It is the first integrated steel production complex in the Arab region.
According to the latest updates of the company’s General Assembly, the decision to liquidate El Tabin factories came because the company is unable to cover the selling prices of all products due to its variable cost. The company, also, could not reach the necessary economic balance due to a constant chance in prices. The companies, also, resorted to holding companies specializing in metal industries to pay the salaries. The committees that were formed submitted conflicting reports, which led the company’s board of directors to take its arbitrary decision on August 18, 2018, to cancel development calls for tenders.
Accordingly, the Centre for Trade Union and Workers' Services (CTUWS) called the different social organisms to discuss this decision and its implications. It, also, invited Egyptian experts, particularly in the field of iron and steel, to discuss alternatives of development and possible reforms. The centre affirms its full support for all initiatives launched by various parties starting from filing a lawsuit to cancel the meeting of the general assembly and its decision to call for popular donations to save the company.
#Egypt #Liquidation #Protests
English 
العربية