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FINANCIAL NEWS
Jeddah floods cause Halwani to stop factory operations
08 Feb 2011
(MENAFN) The CEO of Halwani Brothers Company Ltd., Saleh Hefni, said that the January floods in Jeddah had caused severe damages which led the Jeddah-based company to stop manufacturing operations for the time being, reported Arab News.
Hefni said that the company’s warehouses did not receive any damages but the factory got flooded, therefore, the company had to stop all manufacturing operations and shut down all equipment for at least 45 days.
The CEO said that the stop in manufacturing would not have any effects on the local food market. He added that the global conditions were the reason behind the current high food prices in Jeddah and not the not the recent floods.
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