Rakta Paper Manufacturing
EEGX:RAKT23.06
EGP
-0.10
(-0.43%)
Rakta Paper Manufacturing
EGX:RAKT
(Egyptian Exchange)
Recent
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23.06
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- General Company for Paper Industry (Rakta) is an Egypt-based public shareholding enterprise engaged in the manufacturing, processing, and distribution of paper, paperboard, and cellulose pulp products. Established in 1958 and headquartered in Alexandria, Egypt, the company operates as a subsidiary of the state-owned Chemical Industries Holding Company S.A.E., with its equity publicly listed on the Egyptian Exchange under the ticker symbol RAKT. Rakta primarily serves domestic and regional commercial printers, packaging converters, and government institutions across Egypt and the Middle East and North Africa region, historically utilizing agricultural residues such as rice straw as well as recycled fibers and imported pulp. The company's core operations are structured into paper manufacturing, cardboard production, and pulp processing segments. Rakta's product and service portfolio encompasses: writing and printing paper, including offset printing paper, uncoated woodfree paper, continuous computer stationery, and standard office paper; packaging and board grades, including multi-layer duplex board with grey or white backs, coated carton board, test liner, and fluting medium for corrugated box manufacturing; cellulose pulp solutions, including unbleached and bleached non-wood agricultural pulp; and paper finishing services, including custom slitting, rewinding, and sheeting for industrial converters. In recent corporate and operational developments, Rakta has entered formal corporate restructuring and statutory liquidation. Following extended production halts, financial distress, and accumulated losses, the company's Extraordinary General Assembly passed a resolution to dissolve and liquidate the company. Appointed liquidators are currently managing the liquidation process, debt settlement, and asset inventory based on audited accounts from the Central Auditing Organization. As part of its operational transition and asset monetization strategy, the company is overseeing the reallocation and sale of its approximately 97-feddan industrial land plot in El Tabia, Alexandria, facilitating expansion plans for neighboring industrial entities including Abu Qir Fertilizers Company.