Rania el Mashat, Minister for International Cooperation, Mostafa Madbouli, Egyptian Prime Minister, Omar Marwan, Egyptian Minister of Justice and Guy Sidos, Chairman & CEO of the Vicat group
Vicat group signs agreement with Egypt
International
24 March 2022
On Monday, Guy Sidos, Vicat's chairman & CEO, signed an agreement ending the arbitration procedure between Egypt and the Vicat group.
During his visit to Egypt with the MEDEF International French-Egyptian Business Council, Guy Sidos, Chairman & CEO of the Vicat group, signed an agreement with the Egyptian government represented by her Excellency the Minister of International Cooperation, event witnessed by his Excellency the Egyptian Prime Minister and his Excellency the Minister of Justice.
This agreement settles some investment dispute between Egypt and Vicat.
Long-term investor in Egypt since 2003, main shareholder of Sinai Cement Company, the Vicat group has been committed since then to enhance the Company profitability in a tough but promising market.
The Group values its close relationship with Egypt, which will remain the key of future success.
Guy Sidos added that "we believe that better days are coming for Egypt as it awaits a promising future, and we want to be part of it". He also said "we want to put Sinai Cement in a better position within the Egyptian market, as the cement industry is and will remain a major strategic sector of the country economy".
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Vicat SA published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 17:01:06 UTC.
Vicat specializes in the production and marketing of cement, ready-to-use concrete granulates. Net sales by family of product break down as follows:
- cement (54.7%): 28.8 Mt sold in 2023;
- ready-to-use concrete and aggregates (37.3%): 10 million m3 of ready-to-use concrete and 24.3 Mt of aggregates sold.
The remaining net sales (8%) are from transporting materials and merchandise to large work sites, prefabricated concrete products, and fabrication of building products (glues, coatings, etc.) and paper.
At the end of 2023, the group owns 273 concrete plants, 71 granulate quarries, 16 cement plants, and 5 crushing centers worldwide.
Net sales are distributed geographically as follows: France (30.8%), Europe (10.3%), Americas (24.9%), Asia (12.5%), Mediterranean (11.8%) and Africa (9.7%).
VICAT 
