Egypt to swap capital gains for stamp duty to boost stock market investment    Petroleum minister, AngloGold Ashanti discuss expanded investments in Egypt    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    IMF mission begins fifth, sixth reviews of Egypt's economic programme – PM    EGX closes in green area on 3 Dec    Egypt recovers two ancient artefacts from Belgium    Oil prices edged lower on Wednesday    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's biggest ceramics maker to shut factories: Statement
Cleopatra Ceramics owner plans to wind down his business interests in Egypt due to the stress caused by repeated protests, claims the company
Published in Ahram Online on 11 - 07 - 2012

Egyptian tycoon Mohamed Abul-Enein intends to liquidate his business interests in the country, citing the 'stress' brought on by repeated labour disputes with his employees, Ahram's Arabic-language news site reported on Wednesday.
Abul-Enein is the owner of Cleopatra Ceramics, a major player in the Middle East ceramics industry which has been hit by a wave of labour unrest following Mubarak's ouster in February 2011.
Such protests, staged to win improvements in wages and conditions, are now causing Abul-Enein to close his factories and liquidate his investments, letting him concentrate on his personal life, according to a statement from the Cleopatra Group's media department.
Company employees, however, accused the Cleopatra founder of spreading the news of imminent closures to make them fear for their jobs and rethink their ongoing protests.
For his part, Ahmed Salah, the deputy head of the workers syndicate at the company's Suez factory, said employees would "welcome" Abul-Enein's decision if could lead to the nationalisation of the firm'sfactories, located in Suez and 10th Ramadan City.
Khaled Ali, former presidential contender and head of the Centre for Economic and Social Rights, also weighed in on the decision, saying Abul-Enein had "no right" to close his factories, which are making considerable profits. Ali suggested that shutting successful production could be tantamount to unfair dismissal for the company's thousands of employees,and that the move would need the approval of Egypt's Ministry of Manpower.
Hundreds of disgruntled Cleopatra workers blocked the streets in front of Egypt's High Court in downtown Cairo last Thursday in order to reiterate longstanding labour grievances.
Egyptian prosecutor-general Abdel-Meguid Mahmoud issued a travel ban on Abul-Enein, Egypt's state news agency MENA reported the same day.
Abul-Enein faces charges of unjustly sacking factory workers and failing to pay them their rightful salaries.
In March, around 4,000 of the 6,000 workers employed at the Cleopatra factory in Ain Sokhna, Suez launched a strike to demand salary increases, bonus payments and a share of company profits.
In May, factory operations were suspended for 12 days after company management stopped providing free transportation for workers. In response, around 4,000 employees staged a sit-in before the Suez governor's office.
Abul-Enein dubbed the labour protests as "artificial", saying they were against all laws and rules.
Established in 1983, Cleopatra Ceramics claims to export more than 100 countries and employ around 20,000 people.Its Ain Sokhna factory is one of the largest ceramics plants in the Middle East.
http://english.ahram.org.eg/News/47446.aspx


Clic here to read the story from its source.