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Eastern Company’s OGM approves partnership with filter beams producer

Eastern Company’s OGM approves partnership with filter beams producer

ArabFinance: The ordinary general meeting (OGM) of Eastern company (EAST) has approved a partnership with a filter beams manufacturing company, Eastern Company said in a statement filed to the Egyptian Exchange (EGX).

As per the OGM’s approval, the company will officially start the process and the required steps to fulfill this partnership, according to the statement.

Moreover, a land plot owned by the company at Abu Al Dardaa street, Alexandria has been sold in an auction that was held on January 30th, 2020, Eastern Company added.

It is worth noting that Eastern Company reported a net profit of EGP 4.28 billion in fiscal year (FY) 2020/2021, up by 12.18% from EGP 3.79 billion in FY 2019/2020.

Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products.

The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes’ filter rods and homogenized tobacco.

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