CAIRO: It is no secret that businesses, small or large, have been affected by the recent uprising in Egypt that is currently occurring.
“Nestlé had to with deepest regret close down its three factories, distribution centers and our head office for anywhere between eight to12 days during the recent crisis,” said Suresh Narayanan, chairman and CEO of Nestlé Egypt.
Nestlé is the world’s largest food and beverage company.
The company also closed down their factories and offices in Tunisia for a week while an uprising also occurred there last month.
Along with other multi-national companies who shut down operations briefly last week, Shell, a global group of energy and petrochemical companies, did so as well.
“The safety and security of our employees are our prime concern; our offices were briefly closed, but are now open again,” said Azza Agiza, media relations and communications advisor for Shell Egypt.
The Egyptian government called for businesses around the country to resume work this past Sunday in order to keep the economy going and to try to recover from its losses.
Narayanan stated that Nestlé also resumed business as well by opening its factories, distribution centers and head office and is fully functioning to make their best effort to recover from the crisis.
Last month, Nestlé pledged to invest LE 450 million in Egypt in 2011 by expanding operations, and that commitment has not waivered.
“Nestlé has been in Egypt with its brands for over 70 years and our strong bonds of relationship and service to our consumers have stood the test of time. Hence our commitment to invest in Egypt and grow our business to serve consumers remains undiminished and unchanged,” he explained by reiterated the company’s long term investment in Egypt.
While it comes as no surprise that the economy and businesses were hit hard with financial losses being felt within every sector, both Narayanan and Agiza stated that their employee and consumer’s safety are a priority concern over finances.
“Our operations are largely executed by our JV Bapetco. Bapetco continued managing the operation in line with its own business continuity plans and is now fully functioning again,” Agiza said, adding that production of oil and gas has continued without interruption.
Agiza also explained that the company’s ability to move products to service stations were temporarily limited, probably due to the curfew in place which is being eased gradually.
Many companies are now in recovery mode while in the process of assessing financial losses sustained and looking for ways to pull through the current situation.
Shell is gradually stabilizing although recognizing that it remains vulnerable to change at this time, says Agiza.
“Our offices are now open as we shifted from business continuity mode towards re-establishing full operating mode as quickly as possible,” she added.
Throughout the past two weeks, Egypt has seen an influx in the departure of foreigners leaving the country for fear of their safety, many here working for companies such as Nestlé.
“I am very happy to inform that neither I nor any member of my team left Egypt during this period,” said Narayanan, adding that one of the company’s core values is for the leader and team to be with its employees, especially in times of crisis and stress.
Unlike Nestlé, some of the expatriate staff at Shell “temporarily relocated, but remain in close, continuous contact to ensure oil and gas production remained uninterrupted.”
Real estate
Egyptian Resorts Company, like many other businesses, resumed normal operations on Feb. 6 at its Cairo headquarters.
“I am pleased to note that we have passed through the challenges of the past week intact,” said Mohamed Kamel, ERC CEO, in a press release statement.
Kamel also noted that the company has “recorded no damage to assets nationwide.”
The company continues operations at Sahl Hasheesh, its flagship resort city on the Red Sea coast, as well as proceeding with all current project planning.
“We are particularly gratified to have received such a tremendous outpouring of support from our shareholders in the past days,” commented Abu-Bakr Makhlouf, head of investor relations at ERC.
Kamel added that even through any immediate challenges businesses in Egypt face, ERC has a positive long term outlook for the Egyptian economy.
