Industrial Engineering Company for Construction and Development (ICON) announced that its board of directors has approved the vertical demerger of the company, according to a statement filed to the Egyptian Exchange (EGX).


    Accordingly, the company shall be split into a demerging company (ICON) and two demerged companies; a company for panels manufacturing and a company for projects.



    This decision is pending the approval of the extraordinary general meeting (EGM).


    ICON is an Egypt-based company engaged in manufacturing and producing several types of steel-sheets-related products.


    The company’s products include sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units, and corrugated sheets, galvanized tubes and pipes, aluminium windows, and doors.



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