{"id":638747,"date":"2017-10-12T03:50:38","date_gmt":"2017-10-12T03:50:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/12\/sidel-looks-to-sell-factory-to-meet-debt-obligations\/"},"modified":"2017-10-12T03:50:38","modified_gmt":"2017-10-12T03:50:38","slug":"sidel-looks-to-sell-factory-to-meet-debt-obligations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/12\/sidel-looks-to-sell-factory-to-meet-debt-obligations\/","title":{"rendered":"Sidel looks to sell factory to meet debt obligations"},"content":{"rendered":"<p>Packaging manufacturer Sidel Egypt is moving to sell its Six October factory in order to meet its debt obligations, which have risen sharply over the past year as a result of the EGP float, <a href=\"http:\/\/almalnews.com\/Story\/348897\/11\/%D8%B3%D9%8A%D8%AF%D9%84-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D8%AA%D8%B9%D8%A8%D8%A6%D8%A9-%D8%AA%D8%A8%D9%8A%D8%B9-%D9%85%D8%B5%D9%86%D8%B9-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1-%D9%84%D9%85%D9%88%D8%A7%D8%AC%D9%87%D8%A9-%D8%A7%D9%84%D8%AF%D9%8A%D9%88%D9%86\">CEO Riad Sabra tells Al Mal<\/a>. The company has been having trouble paying suppliers for imported production inputs and has sustained heavy losses due to rising costs, which has in turn hampered expansion plans. Sidel, however, is not planning to exit the Egyptian market, Sabra confirmed. The company is in talks with a cooking oil producer and alkaline water manufacturer Flo to install new production lines worth EUR 3 mn each, and targets sales of EUR 20 mn next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Packaging manufacturer Sidel Egypt is moving to sell its Six October factory in order to meet its debt obligations, which have risen sharply over the past year as a result of the EGP float, CEO Riad Sabra tells Al Mal. The company has been having trouble paying suppliers for imported production inputs and has sustained [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7255],"tags":[72,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638747","post","type-post","status-publish","format-standard","hentry","category-manufacturing","tag-enterpriseam","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"51407e7f-a69d-444c-84fc-dca045add86b","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[638714],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sidel looks to sell factory to meet debt obligations - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/12\/sidel-looks-to-sell-factory-to-meet-debt-obligations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sidel looks to sell factory to meet debt obligations\" \/>\n<meta property=\"og:description\" content=\"Packaging manufacturer Sidel Egypt is moving to sell its Six October factory in order to meet its debt obligations, which have risen sharply over the past year as a result of the EGP float, CEO Riad Sabra tells Al Mal. 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