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Country-Plan Projects and Tenders |
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6285 Subject |
منافسة بين شركة ايطالية واخري فرنسية لشراء شركة ترنكو للنقل والهندسة بالاسكندرية Michelin of France & Pirelli of Italy competing to buy out Alexandria based TRENCO - Transport & Engineering Co. |
| Date Published | Sunday, June 06, 2004 |
| Source Name | Gomhouria |
| Location Name | Alexandria |
| Description | According to Eng. Adel Al Mozi, Chairman of the Chemical Industries Holding Co., Michelin of France & Pirelli of Italy are now competing to buy out Alexandria based TRENCO - Transport & Engineering Co. He revealed that he received letters of intent from both companies confirming their interest to conclude the deal. Buyer would take over the company assets only (factories, equipment & inventory) with no liability to the existing debts & other liabilities (now put at L.E. 800 million). Eng. Al Mozi said buyer would be committed to relocate the factories to a new land, to be chosen by him, within a 4 years period & the Holding Co. would then sell TRENCO lands in Somouha to settle its liabilities. |
| Sectors Section |
Beneficiary Sectors - Automotive & Construction Equipment Rubber Tyres & Batteries - Economy Economy |
