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strike contiues

For the workers, the transfer of the factory to a private investor has been a catastrophe. The stories they told sounded very similar to that of other recently privatized companies like Telemisr or Tanta Linen Co. Since 2007, the new management has refused to pay bonuses worth a total of 10 million pounds, while allegedly paying 6 million pounds cash to about 200 workers that agreed to early retirement. Since it was privatized, the losses of the company has more than tripled - even before the global financial crisis started. Workers accuse the new owner of deliberately sabotaging the factory to eliminate competition, and of buying dysfunctional old machines from his other factories in Pakistan and Indonesia at trumped-up prices as a way to transfer resources abroad