ezzsteel board changes

ezzsteel board changes

Cairo, 17 May 2011 - ezzsteel (formerly: Al Ezz Steel Rebars S.A.E.) (EGX: ESRS; London Stock Exchange: AEZD), the largest independent producer of steel in the MENA region, today announced that it has reorganized its Board of Directors and appointed Paul Chekaiban as Chairman and Managing Director, following the resignation of Ahmed Ezz from his position as Chairman. As part of the same reorganization, Alaa Abul-Kheir has resigned from his position as a Director of ezzsteel and been replaced by Fayez Aly.

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About ezzsteel

ezzsteel (formerly: Al Ezz Steel Rebars) is the largest independent steel producer in the Middle East and North Africa, and the Egyptian market leader, with a total actual capacity of 5.8 million tonnes of finished steel. In 2009, the Company produced 3.3 million tonnes of long products (typically used in construction) and 1.0 million tonnes of flat products (typically used in consumer / industrial goods). ezzsteel's customer base is geographically diversified, with flat products directed to export markets, whereas long products are sold in the domestic market. More than 50 per cent of its plants are less than 10 years old, using the latest in modern steel making technology.

About Paul Chekaiban

Mr. Chekaiban was appointed a Managing Director of ezzsteel in 2005. He has also been a member of the Board of Directors of EZDK and EFS since 2000, the General Manager of EFS (a position he has held since 1998), and Chairman and Managing Director of ERM (a position he has held since 2005).