SPINALEX: Losses Hit EGP 8 Mln In 15 Days On Workers’ Strike

Alexandria Spinning & Weaving Co. – SPINALEX (SPIN.CA) said it incurred losses of EGP 8 million since the workers staged their strikes from August 8^th till August 22^nd, 2012.

This comes after SPINALEX workers had organized a strike demanding a raise in wages . The company added that during the strike, the workers banned exporting or selling the commodities to the customers. The company noted that the dispute will be settled soon.

Worth mentioning, SPINALEX’s issued capital values at EGP 596.467 million distributed to 298.233 million securities in which the par value amounts to EGP 2 per share.