About the company

1- Company Profile

Market: Egypt Sector: Contracting & Construction Engineering
Reuters Code: ENGC.CA Bloomberg Code: ENGC:EY

The Industrial Engineering Company for Construction and Development (ICON), is a joint stock company established in 1977. ICON has been the pioneer leaders in providing all steel-sheets related industries in Egypt, located on 220k meter square in Wadi Hoof, Helwan a strategically located industrial area of Cairo.

Subsidiaries

  • ACROW Formwork Technology : 78.818%
  • Dalmine Egypt Logistic Solutions : 99.92%
  • SUN Infinit East : 74.998%

Executive Committee

Eng. Ahmed Enaba CEO
Eng. Ahmed ELwan GM
Eng. Mohamed Henawy Strategy & Business Development Director
Eng. Amr Mahdy Commercial Director
Eng. Ahmed Hanafy Operations Director
Mr. Hany Bassiouny Finance Director
Mr. Ahmed Gamal HR Manager
Eng. Ali Hassan IT Manager

Auditor: KPMG – Hazem Hassan

2- Board of Directors:

ICON board of directors consists of 8 members, (1 executive, 5 non-executives, and 2 independents).

Mr. Arafat Mohamed Sakr Chairman Non-executive
Eng. Ahmed Enaba CEO Executive
Mr. Hisham Youssef El Far  Member Non-executive
Mrs. Mona Mohamed Sakr  Member Non-executive
Mr. Ahmed Nabil Sakr Board member Non-executive
Eng. Abdul Hamid Mahsp Board member Non-executive
Mr. Hossam Omar Board member Independent
Mr. Ahmed Lotfy Soliman Head Independent

3- Summary of Operations

Today, ICON owns and operates several factories where utmost quality products are ensured by total quality management of end-to-end manufacturing of corrugated sheets, accessories, sandwich panels, steel purlins and guard rails. The company provides and operates building and unit projects manufactured from structures applied using its famous ICON sandwich panels and corrugated galvanized steel sheets. These units come in portable items such as the Caravan units. They also come in fixed units such as the prefabricated building units.
As owners of long history and accumulative experiences, along with the sustainable development in such rare fields in Egypt; ICON became the sole solution for seekers of best quality in material and highest practice of installation for these very special structures.

1. Chairman Mr. Arafat Sakr serves as the Chairman of the Industrial Engineering Company for Construction Development (ICON), Acrow Misr for Scaffolding & Formwork and Inshaa for Development & Construction, he also a member of the boards of “Mega Investments Holding”, and “Sun Infinite Energy”. He developed the management system at ICON, where he had been CEO from 2002 till 2015, turning the distressed company and its subsidiary Acrow Co. into the top 10 formwork and scaffolding companies in the world. The companies were losing their competitive edge and their cost competitiveness and with a turnaround strategy focused on product innovation and diversification, the companies have a combined top line of EGP 2 B and a bottom line of EGP 220 M. Being the Chairman of Acrow and Icon since 2015, his goals has been continuously sharpening their focus on upgrading the brand and market position; as well as on product innovation and In 1998, Mr. Sakr established Nile Investments Securities Company, where he was executive director. He succeeded in growing the company and eventually selling it to Naeem Holding for EGP 300m. He graduated from Alexandria University’s Faculty of Commerce (English Section) in1996.

2. CEO Eng. Ahmed Enaba during his 15 years stay, Enaba led the company’s multiple facets of business. He steered ICON’s transformation into an enterprise-focused company evidenced by an increased growing sales rate over each year. In addition, in cooperation with an external professional support, Enaba led an in-house design of all operation, sales, marketing, administrative and financial policies & strategies, enforcing fairness and professionalism as means of implementation. More importantly, Enaba’s strategic plan for ICON’s growth was endorsed by different means of support to reach an outstanding progress. Before joining ICON, Enaba had a proven executive management track record driving strategic growth for the engineering industry. Out of the 24 years, he spent 15 years at ICON, and the remaining 9 years were spent in multiple executive positions, with accumulated experiences, mostly in; project management, strategic planning, field operation, and bidding optimization. Enaba as well serves as the CEO of Inshaa Construction Engineering Company, and acts as a board member of ACROW Misr. He earned his BSc degree at the Cairo University, Faculty of civic engineering in 1993.

3. Mr. Hisham El Far serves as Board member in Acrow Misr, Reacap Financial Investment, CEO of Coldwell Banker U.A.E, Vice Chairman in Coldwell Banker MENA, and Chairman at El Tadamon Elarabi for securities trading. He also served as CEO for both Naeem Asset Management and United Insurance. He has vast experience in managing diversified fields from financial services, real estate, and industrial companies.

4. Mrs. Mona Sakr, her professional career progressed in Acrow Misr served in the financial department, before joining ICON as elected Board Member in 2015 and ICON’s Audit Committee member, she also serves as a board member at El Magedoon for real estate investments. She earned her BSc degree from Alexandria University, Faculty of commerce in 1990.

5. Mr. Ahmed Nabil Sakr, served as a board member in Acrow Misr from 2013 till 2019, In 2014 he took a place as member of the audit committee. In addition, He is the founder and a board member in Modern Material food which is specialized in the pasteurized eggs market and became a pioneer in the food industry. Sakr is also a member of Alex Business Association. In 2003 he became a licensed insurance agent. Since then working with Suez Canal insurance company as a broker. In addition, he signed with Orient Takaful insurance company in 2014 as a broker.

6. Eng. Abdul Hamid Mahsp, serves as a board member in Acrow Misr, Al Ahram for security systems, Egypt foods, Royal Herbs, and Olympic Electric.

7. Mr. Hossam Omar, he is a certified lawyer holding a master in laws degree from George Town university law center. He served as general legal counsel to HSBC bank from 2014 till 2017, also served as legal counsel to the chairman of the Financial regulatory authority (FRA) from 2006 till 2008.

8. Mr. Ahmed Lotfy Soliman, as an entrepreneur with a passion for real estate, he is the vice-chairman and CEO of Modon Development, he is also the co-founder and co-CEO of LS investment office, a diversified investment firm based in Egypt. In addition to these key roles, he serves on the board of several leading companies in the region, across the real estate, personal care, financial services, renewable energy, and retail sectors.

Audit Committee

Mr. Ahmed Lotfy Soliman Head
Mrs. Mona Mohamed Sakr Member
Mr. Hisham Youssef El Far Member

Shareholder structure

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