Asian Paints resumes operations in Egypt
07 Feb 2011
India's leading paint company, Asian Paints, today said it had commenced operations partially, at its two manufacturing units in Egypt.
The company had suspended operations at the two manufacturing facilities last week, as the political crisis erupted in Egypt.
"The two plants of the company's subsidiary, SCIB Chemicals SAE, Egypt, which were shut due to prolonged curfew, have restarted the operations partially with effect from February 6, 2011," the company said in a filing to the Bombay Stock Exchange.
However, according to observers, the company's decision to re-start the operations, should not be construed to indicate any improvement in the situation in the country.
The company's manufacturing operations in the country are conducted from two facilities located in an industrial area 50 kilometres from Cairo.
Other major FMCG company's with manufacturing units in Egypt, Dabur and Marico have also suspended operations in the Arab nation.