GMC Industrial, Trade & Financial Investments

GMC for Industrial Commercial and Financial Investments is engaged in investment activities in diverse sectors. The Company is primarily engaged in the provision of petroleum services, including trading in oil, maintenance and repair of drilling equipment and petrol transporting pipelines, provision of civil works related to oil exploration, drilling and maintenance, assembling and manufacture of home electric appliances, engineering machinery and cars, engaging in export and import and trading activities, and the provision of general contracting, trading and distribution services.
Financial Performance:
GMC posted a net profit of EGP710 thousand for the first 9months of 2011 vs. EGP715 thousand for the same period of 2010. In September 2011, announced that its BoD has approved to increase the Company.s paid-up capital from EGP 34,999,980 to EGP 104,999,940 through rights issue. The new rights will be allocated to the Company.s existing shareholders at a ratio of two shares for every one share owned.