Cairo – Mubasher: The board of directors of Rubex International for Plastic and Acrylic Manufacturing has approved the purchase of a reactor for raw polyester production for EGP 2.5 million.
The reactor will be used to produce raw polystyrene through recycling polyethylene terephthalate (PET) plastic waste, Rubex said in a bourse disclosure on Wednesday.
The Chairman has been authorised to complete the purchase transaction.
During the first half (H1) of 2021, the company turned to net profits of EGP 2.31 million, versus net losses of EGP 12.29 million in H1-20.
The revenues increased to EGP 91.94 million in the January-June period, compared to EGP 57.24 million in the year-ago period.
