El Sewedy Electric Denies Exit From Syrian Market
El Sewedy Electric (SWDY.CA), the Arab world’s biggest listed cable maker, has negated on Sunday that it will withdrew its investments from Syria during the current period due to the current ongoing instability in the country’s market.
The firm pointed out that it owns only 3 not 5 units in Syria with current utilization levels of less than 20% in the country.
El Sewedy further noted that its sales at Syria units account for 3% of the group’s total sales.
