Edita initiates arbitration procedures against Chipita

Edita Food Industries announced the initiation of arbitration procedures against Chipita at the Cairo Regional Centre for International Commercial Arbitration (CRCICA).

The dispute is related to the termination of a manufacturing and services contract signed on 29 April 2011 and amended on 15 May 2013, the company said in a bourse disclosure on Tuesday.

During the first six months of 2020, Edita achieved net profits of  93.78 million Egyptian pounds, down from  167.8 million pounds in the corresponding period a year earlier.