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Country-Plan Projects and Tenders |
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8055 Subject |
10 مليون دولار قيمة الصفقة شركة ترينكو بالاسكندرية لتصنيع الاطارات الكاوتش لشركة ميشيلان الفرنسية Michelin of France buying out Alexandria based state owned TRENCO - Transport & Engineering Co. for $ 10 million (obviously without land). |
| Date Published | Wednesday, March 02, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Alexandria |
| Description | Michelin of France has bought out Alexandria based state owned TRENCO - Transport & Engineering Co. for $ 10 million (obviously without land). Development was announced after holding irregular shareholders meeting of the CIHC - Chemical Industries Holding Co. attended by both the Minister of Investment and the Minister of Foreign Trade & Industry. Deal commits Michelin to pump further $ 40 million investments to revamp the company and maintain TRENCO 3,500 workers for four years, after which the company will be relocated. Earlier media reports indicated that TRENCO has achieved sales worth L.E. 115.56 million during the first half of FY 2004/ 2005. |
| Sectors Section |
Beneficiary Sectors - Automotive & Construction Equipment Rubber Tyres & Batteries |
