About Misr Helwan Spinning & Weaving Industry. In 1927 a group of Egyptian businessmen collaborated with bank Misr in established a nature silk weaving factory at Damietta. In 1949, it has been decided to transfer the factory from Damietta to Helwan. In 1950, bank –Misr bought most of the share holder s shares and thus the company became one of bank –Misr s group owned companies. The company is expanding its activities has introduced rayon ( artificial silk) in addition to the natural silk . In 1960, the company enlarged its units in order to produce:- Cotton spinning , weaving and finishing of cotton, synthetics and its blends Introducing new varieties in production for the 1 st time in Egypt. i.e. velvet, lace embroideries etc. In 1975, the company completed its vertical activities by starting its complete unit for ready made garment.