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Egypt’s El Sewedy Cement Company, part of El Sewedy Industries Group, has picked up a minority stake in Speed Medical Co, the latter said in a bourse filling on Sunday.
El Sewedy has bought 10 million shares, equivalent to 0.9 percent, in Speed Medical for 5.24 million Egyptian pounds ($277,038), the filling read.
Established in 2007, El Sewedy Cement started production in 2011 as a leading manufacturer in the Egyptian building materials industry. It has a factory in Sokhna; Suez governorate.
