Egyptian Iron & Steel
EEGX:IRON25.86
EGP
-1.18
(-4.36%)
ISIN
EGS3D061C015
Return %
Stock
S&P 500
1Y
-36.35
14.20
3Y
71.14
81.12
5Y
1,630.92
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- Sector
- Non-energy minerals
- Industry
- Steel
- Address
- Helwan Egypt
- IPO Date
- Nov 13, 1958
- Website
- hadisolb.com
- Similar Companies
- Business
- Egyptian Iron and Steel Company (EGX: IRON), commonly known as Hadisolb, is an Egypt-based integrated iron and steel manufacturing enterprise, operating under the state-owned Metallurgical Industries Holding Company. Founded in 1954 and headquartered in Helwan, Cairo, Egypt, the company historically operates as Egypt's first and largest integrated steel producer, supplying raw, semi-finished, and finished steel products to domestic and regional construction, infrastructure, and heavy industrial markets across the Middle East and North Africa (MENA) region. The company's comprehensive product portfolio comprises semi-finished steel products, including continuously cast steel billets, slabs, and foundry pig iron; long steel products, including hot-rolled reinforcing steel bars (rebar), wire rods, equal and unequal angles, light and heavy structural sections, universal beams, and U-channels; flat steel products, including hot-rolled steel plates, cold-rolled sheets and coils, corrugated sheets, and checkered floor plates; mining and raw materials, including extracted iron ore, limestone, and dolomite fluxes; and industrial by-products, such as granulated blast furnace slag for cement manufacturing, scrap metal, and industrial gases including compressed oxygen, nitrogen, and argon. In recent corporate developments, Egyptian Iron and Steel Company is undergoing a comprehensive corporate restructuring and state-supervised liquidation process following a resolution approved by its Extraordinary General Assembly to dissolve the manufacturing entity due to accumulated debt and operational obsolescence. As part of this reorganization, the company completed a horizontal demerger that spun off its mining and quarrying operations into a newly formed, publicly listed entity, Iron and Steel for Mines and Quarries (ISMQ). Egyptian Iron and Steel Company is currently executing its liquidation proceedings, which include conducting phased public auctions to divest its industrial machinery, surplus scrap inventories, production lines, and prime industrial land holdings in Helwan and Ain Sokhna. The proceeds generated from these asset sales are allocated toward settling debt liabilities with government creditors, including the Egyptian Electricity Holding Company, state natural gas suppliers, and the National Investment Bank, while funding early retirement compensation packages for its workforce ahead of the final delisting of its shares from the Egyptian Exchange.