Arab Finance: Company announced MB Engineering (MBEN) Upon the approval of the Board of Directors held on 15/09/2024To authorize the Vice Chairman of the Board of Directors to negotiate and submit a purchase offer to acquire a controlling stake in an industrial company operating in the same field.
The company explained that it was decided to authorize him to sign all documents and contracts necessary to complete this acquisition, and this step comes within the framework of the company’s plan to enhance integration and enhance industrial activity.
It was established in 1981 and is an agent for the German company Hager for more than 34 years, in addition to Samoa and Hyundai of Korea. It distributes low-voltage electrical equipment, including electrical protection, automation and control devices, and electrical distribution, in addition to plastic wiring accessories. Through its subsidiaries, it manufactures switchgear devices.
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