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Egyptian Cotton & Textile Industries to merge subsidiaries

Egyptian Cotton & Textile Industries to merge subsidiaries

Egypt’s Cotton & Textile Industries Holding Company recently signed a contract with PwC under which the latter will provide accounting, legal and tax advice to the firm for the planned merger of its subsidiaries and implementation of restructuring. Its subsidiaries are planned to be merged into nine textile firms and one company for cotton grinning and trade.

Warner Consulting recommended merging the company’s 22 textile units and 9 units for ginning and trade of cotton, according to an Egyptian English-language daily.

 

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Also Read: Egyptian Cotton witnesses surge in exports following sustainability drive

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