Egypt turmoil hurt production by up to 70%: Marico

FMCG major Marico Industries said the recent political turmoil in Egypt has affected production at its two plants in the North African country by up to 70% and will impact revenue for at least one quarter, reports Business Standard.

March 10, 2011 / 18:32 IST

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FMCG major Marico Industries said the recent political turmoil in Egypt has affected production at its two plants in the North African country by up to 70% and will impact revenue for at least one quarter, reports Business Standard.

The company also cautioned that if the unrest that is spreading to other countries in the region reaches Saudi Arabia, it could spell bigger problem for the FMCG firm, the report adds.

"We have two factories in Egypt and you know the situation in Egypt is still not absolutely back to normal. In the last one month, virtually almost 60-70% of our production got impacted because we were closed for 10-15 days," Marico Chairman and Manging Director Harsh C Mariwala.

Source: Business Standard

first published: Mar 10, 2011 06:30 pm

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