Middle East Economic Survey
Al-Khaleej Polypropylene Products Acquires 80% Of Egypts 2M
Oman-based Al-Khaleej Polypropylene Products (AKPP) has completed the acquisition of 80% of Egypts 2M, producer of cast polypropylene (CPP) film, at a cost of $4.2mn. Egypts Salma Group holds the remaining 20% which are managed by the Omani company. The acquisition aims to offset AKPPs capacity loss caused by the fire which damaged the CPP film lines of its Sohar plant...