ArabFinance: Eastern Company (EAST) decided to suspend operations at Muharram Bek factory to abide to the directives of President Abdel Fattah El-Sisi and the governments strategy to develop the business sectors performance, Al Mal Newspaper reported, citing the companys managing director and CEO Hany Aman.
This decision has no relation to the new cigarettes production license, Aman said, adding that it has been taken for economic reasons.
The company will discuss its vision regarding dealing with Muharram Bek factory in Alexandria as well as the workers position over the coming period, he pointed out.
In another context, Eastern Company said in a statement that it will grant workers at Muharram Bek factory an official paid vacation until further notice.
On December 20th, 2021, Eastern Company announced the suspension of production at its Muharram Bek factory until future needs are calculated.
It is worth noting that the production volume of the Muharram Bek factory accounts for 3% to 5% of Eastern Companys total production volume.
Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products.
The companys product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes filter rods and homogenized tobacco.
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