Mayar subsidiary inks contract to sell, install elevators in Iraq

20/12/2023 Argaam

Mayar’s subsidiary inks contract to market, sell, install elevators in Iraq

Logo of Mayar Holding Co.

Mayar Holding Co.’s subsidiary, Gulf Elevators and Escalators Co. Ltd. (GEEC), signed an exclusive agency contract with MidPoint General Trade and Commercial Agencies Co. in Iraq.

 

Under the 36-month contract, MidPoint will market, sell, install, and maintain Mayar's products of elevators and escalators in all regions of Iraq, according to a statement by Mayar to Tadawul. 

 

The financial impact of this contract will be positive in the long term and is expected to appear as of H1 2024, the statement said, noting that no related parties are included in the deal. 

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