The extraordinary general assembly of the Nasr Company for the manufacture of forgings, headed by Eng. Mohamed El Saadawi, decided to appoint Eng. Ashraf Abdel Salam as an executive managing director of the company. It also decided to appoint Dr. Mohamed Ahmed Mostafa as a part-time chairman of the company. Sami Mohamed Afifi and Hatem Mohamed Fahmy were appointed as members. In the Board of Directors with the amendment of the articles of association of the company in accordance with the amendments of Law 203 of 1991 and Law No. 185 of 2020, regarding the separation of management from ownership.
The association also agreed to continue the company despite the losses exceeding more than half of the capital according to Article 38 of the Public Business Sector Law No. 203 of 1991 year due to the presence of great opportunities for the company to grow and exceed the losses. 289 million pounds.
The Ordinary General Assembly discussed the financial statements and business results for the fiscal year 2019-2020, as the company succeeded in achieving profitability despite the Corona pandemic that affected the global and local economy for the second fiscal year in a row.