Bloomberg News

Pachin Rises Most Since August on Plan to Reopen Libya Plant

December 14, 2011

Dec. 14 (Bloomberg) -- Paints & Chemical Industries Co., Egypt’s biggest publicly traded producer of paints, climbed the most since August 23 after the company said it plans to reopen its Libya plant on Jan. 1.

Paints & Chemicals, also known as Pachin, gained 3.4 percent to 33 Egyptian pounds at 11:35 a.m. in Cairo, valuing the company at 660 million Egyptian pounds ($110 million).

Pachin also reported that consolidated sales to Nov. 30 rose 8 percent from the previous year. Pachin suspended operations in Libya on Feb. 20 because of unrest in the North African country.

--Editors: James Kraus, Linda Shen

To contact the reporter on this story: Mahmoud Kassem in Cairo at mkassem1@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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