Eastern Company abandons heated tobacco investment

Updated 6/22/2023 8:08:00 AM
Eastern Company abandons heated tobacco investment

Arab Finance: Eastern Company (EAST) has abandoned the plan to invest in heated tobacco production lines in light of the country's lack of foreign currency, the company’s CEO and Managing Director Hany Aman told Asharq Business on June 20th.

He added that the company is currently prioritizing providing the necessary foreign cash to obtain the tobacco used in the manufacture of cigarettes.

Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products.

The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarette filter rods and homogenized tobacco.

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