Misr Cement Qena resumes production as strike action ends

Misr Cement Qena resumes production as strike action ends
Published: 02 November 2011

Egypt’s Misr Cement Qena has resumed production at all its factories after employees ended their strike and returned to work, the firm announced in a statement to the stock exchange on Monday.

The statement gave no indication of whether a deal had been reached between management and disgruntled employees.

The cement producer shut all but one of its factories on Sunday in response to a new wave of industrial action by workers demanding higher wages.

Ahmed Imam, an official at Misr Cement, told Reuters the firm was operating a single factory with production capacity of 5400tpd of cement.

On Sunday, Misr Cement announced that its nine-month net profit for 2011 had fallen to EGP263.7m, down 16 per cent from a year earlier.