CAIRO: Cement Group of Companies Suez Cement (SCGC) lost 80 million EGP ($13.5 million) as a result of the political unrest that led to former President Hosni Mubarak's ouster early February, said a company spokesman. He added that the firm lost a total of nine days of work during January and February, causing estimated total losses of 30 million EGP. SCGC is a subsidiary of Italian Company Italcementi since 2005. In addition to that, 99 percent SCGC-owned Helwan Cement unit lost another 50 million EGP after its plants stood idle for 16 days. Trade Unionist of the company protested against the board of directors illicitly profiting on company shares, during SCGS annual conference in Cairo Airport Sheraton Hotel 15 March. They were attacked by thugs. Mohamed Abdel Monsef, head of the Union, declared that thugs broke his leg, in an attempt to prevent him entering the conference. Thugs were hired by SCGC board director Omar Mehana, claimed Abdel Monsef, in order to avoid protests and the disruption of the conference. SCGC accounts for about 34 percent of Egypt's cement market and employs roughly 3400 people in several different plants in Cairo, Helwan, Torah and el-Minya. According to Mohammad Nasser Darwish, Professor of Civil Engineering, Faculty of Engineering, Egypt is the first Arab cement producers and fifth bigger exporter in the world. BM
