Wait and see for Electrolux in Egypt

German chemicals firm BASF and General Motors reopened facilities in Egypt yesterday while Electrolux extended plant closures until security stabilises.

Electrolux, the world's second-biggest home appliances maker, with nearly 7000 employees in Egypt, suspended production on Wednesday for five days.

The Swedish company, whose 10 production facilities are on the outskirts of Cairo, said it would reassess developments continuously.

"Operations will be resumed as soon as the security situation stabilises," it said.

More than 700 people have died, most of them supporters of ousted president Mohamed Morsi, in four days of violence during which the army-backed government launched a fierce crackdown on his supporters.

Electrolux's turnover in Egypt was more than $307-million last year.

The real estate arm of family-owned conglomerate Al Futtaim said yesterday work on Cairo Festival City - a 3-million square-metre residential, commercial and retail development about one hour's drive from the areas worst affected by violence - was suspended on Wednesday.

"They [employees] have been instructed to stay at home or at a safe place ever since and the situation is being reviewed on a daily basis to ensure the safety of all our people," a spokesman for the United Arab Emirates-based firm said.

Other international firms said they were open again for business, with security staff monitoring events closely at production sites mostly some distance from the central Cairo flashpoints.

Carmaker GM, which halted operations on Thursday, said it had decided to reopen its production plant in 6th October City, as well as its Cairo office, although it was still monitoring the situation carefully.

Chemicals company BASF, which halted production on Thursday, also said its offices in Alexandria and Cairo and a plant in Sadat City were up and running again. Retailer Metro closed its two cash and carry stores in Cairo and its Egypt headquarters on Friday and Saturday but said they were open again yesterday.

The group's security staff were keeping an eye on current events, a spokeswoman said.