SUEZ: Update Following Rating Affirmation
INFRASTRUCTURE AND PROJECT FINANCE CREDIT OPINION 21 March 2017 Update RATINGS SUEZ Domicile Paris, France Long Term Rating A3 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Paul Marty 44-20-7772-1036Suez Bags. Suez Bag Company SAE is an Egypt-based public shareholding company that operates in the paper packaging and container industry. The Company is primarily engaged in the manufacture and sale of paper bags used in cement packing, gypsum, foodstuff, dairy products, juices and chemicals, as well as in the production of other paper products. The Company's manufacturing plant is equipped with four lines of bag manufacturing equipment of which three lines are used for the production of cement, gypsum and other building materials, while the fourth line manufactures custom made special orders. The plant has a production capacity of 240 million bags per year. During the fiscal year ended December 31, 2011, the Company produced 192 million bags. Suez Bag imports paper from Austria and Canada. The Company is a 53.32% subsidiary of Suez Cement Company.
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