Alexandria Spinning & Weaving

The Company is engaged in the cotton and textiles industries through manufacturing, trading and exporting of cotton flowers, yarn, thread, cotton fibers and related textile products. Its yarn manufacturing plant consist of cotton blowing, carding, drawing, roving, spinning and winding mills, and has an annual production capacity of 12,000 tons of cotton yarns. Spinalex also has a quality control and testing division, as well as providing shipping services for its products in pallet forms.
In 2009/10, SPINALEX held a market share of 6.6% of the total cotton delivered by the Holding Company for Cotton, Spinning & Weaving. SPINALEX produces 100% cotton yarn varying from coarse count to fine count,and possesses almost 160,000 spindles across four mills with a 96% utilization rate. The company is currently adding new capacity in the form of a new facility in Sadat City that will encompass around 48,000 new compact spindles.
Financial Performance:
SPINALEX sent a statement to Egyptian Exchange (EGX), stating that revenues dropped EGP8mn due to a production pause in the period from January 28, 2011 to Feb. 4, 2011.
SPINALEX reported its consolidated financial results for 1H10/11 ending Dec. 31, 2010, posting a net profit of EGP14.9mn, compared to a net profit of EGP6.2mn in the same period a year ago.