Eastern Co. to start local tobacco cultivation in 2017
Eastern Company (EAST.CA) is planning to start growing tobacco in Egypt during 2017 under supervision of the armed forces. According to the company’s chairman, the move would help meet the demand for tobacco products and would save USD200mn tobacco import costs annually. (Al Borsa) Eastern Company: EGP210.19 as of 20 October 2016, Rating: Buy, FV: EGP310.00 per share, MCap: USD1,184mn, EAST EY / EAST.CA
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