Bawan’s Algeria JV to launch production by Q2 2019

27/03/2018 Argaam

 

Bawan Co.’s Algerian joint venture, Utec Algeria, is expected to start commercial production by Q2 2019, instead of Q2 2018.

 

Any relevant expenses or financial impact will be duly revealed, Bawan said in a statement to Tadawul.

 

United Transformers Electric Co. LLC​ (Utec), which is 85.5 percent-owned by Bawan, owns 49 percent of the new company. Algeria-based Industry Technology Electric LLC owns another 49 percent.  

 

Founded in 2001 as a joint venture between Bawan and Australia’s Wilson Transformers, Utec specializes in manufacturing distribution transformers.

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