FLSmidth sells Sinai Cement stake to France’s Vicat

FLSmidth sells Sinai Cement stake to France’s Vicat
Published: 21 September 2005

FLSmidth has sold its 7.5 percent stake in Egypt’s Sinai Cement Company for around 100 million Danish crowns (US$16.4m), the Danish company said.  

FLSmidth sold its stake to French building materials group Vicat , it said in a statement.  

FLSmidth raised its full-year pretax profit forecast by 30 million crowns due to the sale and now sees 2005 earnings before tax in the range of 350 million to 410 million crowns.