Elsewedy Electric is boosting productivity at a time of falling copper prices.
Major cablemaker expects demand to pick up for all operations after regional upheaval squeezed sales for the first six months of the year
Continue reading El Sewedy Electric eyes stronger performance in second half of 2011
El Sewedy Electric, the Arab world’s biggest listed cable maker, said on Monday its Qatari unit had won a cable supply contract worth US$440 million, helping to boost its presence in the Gulf nation.
Subsequent to attaining his B.sc degree in Electrical Engineering from Cairo University in 1986, Ahmed joined his family’s business of manufacturing cables. Being an apprentice to the industry, he was assigned and assumed a diversity of roles, proceeding from one to another, in preparation for the business’s new leader. In 1997, he was appointed as the CEO of the company and initiated corporate strategies that shifted El Sewedy to a new horizon.
Starting with ONE cables factory, Ahmed master minded the current massive expansions of El Sewedy Cables and drove a 30% per annum growth of capacity, revenues and manufacturing plants to reach 30 factories by 2010. In May 2006, he led El Sewedy Cables IPO, and the private placement of shares on the Cairo and Alexandria stock exchange amounted to 1.29 billion Egyptian pounds representing 25% of the share capital of El Sewedy Cables. In November 2010, Ahmed changed Elsewedy Cables name to Elsewedy Electric in order to reflect current business expansions and diversification as an integrated energy solutions provider serving and reaching customers in five main markets – energy, infrastructure, industrial, building and residential – by operating in eight diversified sectors: cables and accessories, electrical products, energy measurement and management, transformers, communication, wind energy generation, solar energy, and EPC operations.
Elesewdy Electric reports record revenues and operating profits in the second quarter of 2010. Recovery from slow 2009 is on track
Egypt will launch within days a tender compeition to choose firms to build a 1,000 mega-watt wind farm in the Gulf of Suez, its electricity minister said.
Egypt’s El Sewedy Cables has invested 40 million euros ($54 million) to open two factories making equipment for electricity-generating wind farms, the stock exchange said on Sunday.