Egypt Court Orders Cancellation of Cement Plant Sale, MENA Says

An Egyptian court ordered today that the sale of a cement factory to private-sector interests should be canceled and that the plant should be returned to the government, the state-run Middle East News Agency reported.

The court ruled that all workers forced to retire after the sale can return, the agency said.

A lawsuit was filed after the factory was sold to Mexican businessmen in 1999 for less than its true value and thousands of workers were forced into early retirement, MENA said.

To contact the reporter on this story: Nadine Marroushi in Cairo at nmarroushi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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