{"id":641954,"date":"2017-08-02T04:07:11","date_gmt":"2017-08-02T04:07:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/"},"modified":"2017-08-02T04:07:11","modified_gmt":"2017-08-02T04:07:11","slug":"eastern-tobacco-invests-eur-15-mn-in-new-production-lines","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/","title":{"rendered":"Eastern Tobacco invests EUR 15 mn in new production lines"},"content":{"rendered":"<p>Eastern Tobacco has signed five agreements for new production lines at its plant worth around EUR 15 mn, Chairman Mohamed Haroun <a href=\"http:\/\/www.almalnews.com\/Story\/341839\/14\/%D8%A7%D9%84%D8%B4%D8%B1%D9%82%D9%8A%D8%A9-%D9%84%D9%84%D8%AF%D8%AE%D8%A7%D9%86-%D8%AA%D8%AA%D8%B9%D8%A7%D9%82%D8%AF-%D8%B9%D9%84%D9%89-5-%D8%AE%D8%B7%D9%88%D8%B7-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-15-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%8A%D9%88%D8%B1%D9%88\">told Al Mal<\/a>. The new lines are set to result in doubling the company\u2019s output and will be received within seven months. Eastern Tobacco has also managed to increase its reserves of manufacturing inputs to last for 16 months, as more banks were willing to provide the company with trade finance since the EGP float, Haroun adds. The company <a href=\"http:\/\/egx.com.eg\/downloads\/Bulletins\/205765_1.pdf\">sent the EGX<\/a> a statement confirming the EUR 15 mn investment mentioned in the Al Mal piece, but denied any plans for a stock split.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eastern Tobacco has signed five agreements for new production lines at its plant worth around EUR 15 mn, Chairman Mohamed Haroun told Al Mal. The new lines are set to result in doubling the company\u2019s output and will be received within seven months. Eastern Tobacco has also managed to increase its reserves of manufacturing inputs [&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":[9309],"tags":[2416,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641954","post","type-post","status-publish","format-standard","hentry","category-basic-materials-commodities","tag-basic-materials-commodities","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"41d7d488-6d2c-4446-ad47-e93a96b4dd52","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[641931],"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>Eastern Tobacco invests EUR 15 mn in new production lines - 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\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eastern Tobacco invests EUR 15 mn in new production lines\" \/>\n<meta property=\"og:description\" content=\"Eastern Tobacco has signed five agreements for new production lines at its plant worth around EUR 15 mn, Chairman Mohamed Haroun told Al Mal. The new lines are set to result in doubling the company\u2019s output and will be received within seven months. Eastern Tobacco has also managed to increase its reserves of manufacturing inputs [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-02T04:07:11+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eastern Tobacco invests EUR 15 mn in new production lines\",\"datePublished\":\"2017-08-02T04:07:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\"},\"wordCount\":112,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Basic Materials + Commodities\",\"EnterpriseAM\"],\"articleSection\":[\"Basic Materials + Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/02\/eastern-tobacco-invests-eur-15-mn-in-new-production-lines\/\",\"name\":\"Eastern Tobacco invests EUR 15 mn in new production lines - 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The company justified the increases with the 100 bps rise in the value-added tax (VAT) that came into effect with the start of the new\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651570,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/15\/eastern-company-says-pmi-owes-it-usd-78-2-mn\/","url_meta":{"origin":641954,"position":1},"title":"Eastern Company says PMI owes it USD 78.2 mn","author":"enterpriseam admin","date":"15 February 2017","format":false,"excerpt":"The Eastern Company for tobacco said it is owed USD 78.2 mn from Philip Morris International (PMI) for manufacturing in 1Q2016-17 as well as EGP 33.5 mn in sales tax due for 1H2016-17, according to Al Mal. Eastern Company says it paid taxes on behalf of PMI but was not\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638934,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/17\/eastern-company-indefinitely-puts-off-cigarette-plant-in-borg-el-arab\/","url_meta":{"origin":641954,"position":2},"title":"Eastern Company indefinitely puts off cigarette plant in Borg El Arab","author":"enterpriseam admin","date":"17 October 2017","format":false,"excerpt":"Eastern Company has indefinitely put off plans to build a 110k sqm cigarette manufacturing complex in Borg El Arab, company chairman Mohamed Haroun tells Al Mal. The decision came from the Chemical Industries Holding Company (Eastern\u2019s parent company) which saw the capex required to build the complex as too high\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649542,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/02\/philip-morris-settles-with-eastern-company-future-payments-to-be-in-egp-equivalent\/","url_meta":{"origin":641954,"position":3},"title":"Philip Morris settles with Eastern Company, future payments to be in EGP equivalent","author":"enterpriseam admin","date":"2 March 2017","format":false,"excerpt":"Eastern Company announced it reached an agreement with Philip Morris International to get it \u201cto pay back outstanding debt and make future payments in the local currency,\u201d Reuters reports. 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