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"National cartoon industry" intends to continue its development plans during the current year

2009-05-11

Nablus – Al Ayyam: Samir Hleileh the Chairman of the National Cartoon Industry Company announced that year 2009 will be the beginning of the shift in performance, where the company began its development plans which were launched last year and will continue this year.
The General Meeting of the company held its regular meeting in Nablus, the day before yesterday, in the presence of representative of companies" observer in the Ministry of National Economy Youssef Joudeh, and the representative of Palestine Securities Exchange Muhammad Hijaz and the external auditor, and approved at the end the financial and administrative reports for the year 2008.
In his report to the Assembly, Hleileh reviewed the circumstances surrounding the work of the company, and the achievements during the past year, noting in this context to the significant impact left by the political and economic events in the year 2008 on the company"s results, which as the global financial crisis which had emerged and caused a decline in the financial markets that are unprecedented and in a short period of time, and plunging the world into economic recession that is expected to continue a period of two years, especially as it was already in the first half of 2008 spikes in the prices of raw materials and oil, and referred in this connection that the financial losses of the portfolio of the company amounted to about 268 thousand dinars in year 2008, where the company"s board of directors adopted a resolution to liquidate, and the need to focus on the production processes of the company.