EIC plans expansions around MENA to boost sales

23/10/2014 Argaam

The Electric Industries Company (EIC) plans new expansions around MENA region to boost sales and help maintain its market share in Saudi market, said Chairman Ahmed bin Nasser Al-Suwaidan.
 

The company aims to increase its outreach especially in the markets of low- and medium-voltage distribution boards to integrate its range of products, he added.


EIC controlled 52 percent of Saudi market of (electric) transformers in 2013.


The company announced plans to float 30 percent of its capital in an initial public offering on November 11-17. A local newspaper said yesterday the stock may be priced in the SAR 45-54 range.

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