Cairo – Mubasher: Egyptian tobacco manufacturer, Eastern Company, will hold its extraordinary general assembly (EGM) on 28 February, to discuss the results of negotiations concerning the re-establishment of the economic balance to manufacture Philip Morris International’s products, according to a statement released Monday.
Eastern Company manufactures four global commercial brands for around four foreign companies in Egypt, namely: Philip Morris, British American Tobacco, Imperial and Japan’s J.T.I.
These companies’ contracts are renewed annually.
Last month, the Egyptian company raised its price range for Cleopatra cigarette brands’ between EGP 0.25 and EGP 1.5.
The company’s share last traded on EGP 214.
