Oriental Weavers (ORWE.CA) announced that it is taking the necessary procedures to financially merge its subsidiaries, Rosetex Modern Factories for Spinning and Weaving Co. and Oriental Weavers Textiles. Given intercompany sales, the merger will bring about a 2-3% increase in consolidated net profit, with consolidated assets reaching EGP354mn and total liabilities amounting to EGP142mn. All future expansions will be conducted by Oriental Weavers Textiles Company - these include the addition of four new looms by year-end to the existing 22. Following the merger, OW Textile's capital will increase by USD10mn to USD35mn, distributed to shareholders in both companies. (Company disclosure)   Oriental Weavers: EGP5.27 as of 28 June 2016, Rating: Buy, FV: EGP10.30 per share, MCap: USD267 million, ORWE EY / ORWE.CA