While the Shebeen al-Kom factory is making losses, and Indorama is using this as an excuse to cut back on salaries and incentives, how about the mother company? While the Sheeben factory has reportedly made losses of 69 million Egyptian pounds over the past two years, in August 2008 Indorama commissioned "a brand new state-of-the-art compact yarn spinning plant of 26,000 spindles" in Indonesia, and announced an investment of 4 billion rupees (roughly 400 million Egyptian pounds) in a new manufacturing plant in India. Just a few days ago, it was reported that Indorama is establishing "the world's biggest fertiliser complex within its premises at Eleme, River State [Nigeria] at a cost of $2.5 billion."
حسام الحملاوي on 16 Mar 09"In any case, it is clear that the strike at Shebeen el-Kom will have huge implications, since it raises doubts around the economic polices of the state, threatening further privatization schemes in the textile industry in particular. Whatever the outcome, the experience of Shebeen el-Kom is likely to further strengthen resistance to privatization among workers in other state owned factories"
