About the company

1- Company Profile

The Industrial Engineering Company for Construction and Development (ICON) is a joint-stock company established in 1977. Operating under Law No. 159/1981, with authorised capital of EGP 1.5 billion, and issued and paid-up capital of EGP 582 million, distributed over 145,500,000 shares with a par value of EGP 4 per share. The company was listed on EGX on March 2, 1982.

Subsidiaries

Executive Committee

Auditor: Mr. Wael Sakr – PWC

1. Board of Directors:

ICON board of directors consists of 9 members, (2 executive, 3 non-executives, and 4 independents).

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.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.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 companie

4.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.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.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.

7.Omar Refaat is a strategy and corporate development consultant. He previously acted as the Chief Investment Officer for the LS Investment Office, with an overall responsibility for the global portfolio management activities of the Egypt based private investment firm. Prior to that, Omar was a Director at CI Capital Investment Banking, joining in early 2013 for a restructuring, business transformation, and franchise turnaround mandate. In addition to his team and execution-capacity building responsibility, Omar has led the teams that consummated the advisory work on OCI N.V.’s USD 7.3 bn acquisition of former parent Orascom Construction Industries, and Actis’ USD 422 mn exit from Commercial International Bank. Before that, as part of his tenure with EFG-Hermes, Omar worked on Mergers & Acquisitions transactions with a value exceeding USD 28 bn. In 2012, he co-founded BlueMed Holding, a healthcare business services platform. He received his B.S. in Business Administration and Economics from the American University in Cairo in 2006, with highest honors.

8.Maha Maalouf, she has 28 years of professional experience, most of which in Management Consulting with a special focus on disciplines pertaining to Organization Development and Corporate & Family Governance. On a broader perspective, Maha lead Transformation Assignments encompassing multiservice offerings providing clients with total solutions including; strategy formulation and cascading, organization restructuring, and Corporate Governance design and implementation. Such assignments support clients in reaching a greater level of institutionalization and business sustainability. For the past 9 years, Maha provided greater focus and assumed higher responsibilities in developing and growing the Corporate & Family Governance practice in the firm, she leads the productization process of the different governance modules to ensure their seamless integration in the organizations’ dynamics, while also raising awareness to the benefits of governance on business sustainability and the maximization of shareholders’ value.

Audit Committee