Agreement to sell Misr Shebin El-kom Company to Indorama

Excerpts from Al-Ahram
The Ministry of Investment and the Textile Holding Company announced its agreement for selling the assets of Misr Shebin El-kom company for spinning and weaving to Indorama Shebin Textiles Co. SAE, pursuant to the Extra Ordinary General Assembly resolution of the Holding Company its meeting held on 1 October 2006.

The assets of Misr Shebin Co. for Spinning and Weaving has been handed over to the core investor, Indorama Shebin Textiles with effect from 15 February 2007.