Weaker Euro Has OW Renegotiating Prices

Cairo, Egypt, June 14, 2010--Oriental Weavers is negotiating to raise prices on some of its contracts with European importers due to the weakening of the euro against other currencies this year, the company said on Sunday.

Oriental Weavers exports over half of its goods to more than 100 countries, with about 20% of its sales coming from Europe. It also controls 85% of Egypt's carpet industry.