Setcore Spinning

About Setcore Spinning

Founded in 1972, Setcore Group has roots that date back to the 19th Century. Originally established as a leather tannery in Alexandria, the company was of one Egypt’s first modern industrial concerns. The business survived both World Wars, the Great Depression and continued to flourish until it was nationalized in 1962 by the Egyptian government. Said El Tawil was the General Manager of the company at that time. In 1972, under the open door policies of the late Egyptian President, Anwar El Sadat, Said El Tawil founded Setcore in Cairo. The company started out as a commodities trading business dealing in sugar, grains and edible oils. During the 1970’s and 80’s the company diversified into ice cream manufacturing, beverages, building materials, heavy equipment and oilfield services. In 1995, the Egyptian government liberalized the cotton trade and Setcore quickly became one of the largest exporters of Egyptian cotton. That same year, the ice cream business was sold to the Swiss food giant Nestle. What followed was a period of restructuring which led to the disposal or closure of non-core businesses and a decision to focus on textiles and oilfield services. In 2003, Setcore established one of the first privately owned spinning mills which has since emerged as the leading Egyptian producer and exporter of fine count cotton yarns. Today, Setcore is a privately held company active in textiles and oilfield services. In all that it does, Setcore Group remains guided by the vision of its founder and honorary chairman, Said El Tawil. His values - hard work, determination and integrity form the foundation on which Setcore Group stands.