Egypt Sewedy eyes insulator company stake

[SABRAWY]

Egypt-based El Sewedy Cables SWDY.CA announced on Sunday the firm is in talks to buy 51.2 percent of the Egyptian Company for Manufacturing Electrical Insulators (ECMEI) Ahmed El-Homossani, El Sewedy's director of investor relations, said the negotiations were at a very early stage, declining to give more information. ECMEI, which makes electrical porcelain insulators, says it has a 100 percent market share in Egypt. It has an investment capital of 200 million Egyptian pounds ($37.42 million), according to its web site.

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