Ascom’s subsidiary in final talks over addition of new production line
Updated 8/16/2022 11:37:00 AM
Arab Finance: Glass Rock Insulation Co, a subsidiary of Asek Company for Mining (Ascom) (ASCM), is in the final talks to sign the supply contract of the new production line, Ascom said in a statement on August 16th.
On February 8th, Ascom announced that Glass Rock Insulation was considering the addition of a new production line at an estimated cost of $3 million.
The new line will be dedicated to manufacturing insulation glass wool pipes.
Ascom is an Egypt-based public shareholding company that operates primarily in the non-metal mining sector.
The company is engaged in geological exploration, mining and quarrying of raw materials, and developing mining operations for building materials and precious metals. This is in addition to being involved in manufacturing operations for ground calcium carbonate and rock as well as glass wool.
