QIMC’s current stake in QPPC is 33.33%
QIMC QIMD -0.17% 40.93 -0.07
Mubasher: Qatar Industrial Manufacturing Company (QIMC) on Tuesday announced plans for a possible acquisition of the foreign partner's stakes in Qatar Plastic Products Company (QPPC).
QIMC’s current stake in QPPC is 33.33% and following the acquisition will reach 66.66%, it said in a statement to the Qatar Stock Exchange (QSE).
Currently, the remaining stakes in QPPC are owned by Qatar Petrochemical Company (QAPCO) and Stefano Ferretti, who own 33.34% and 33.33%, respectively.
In the full year 2017, QIMC’s profits rose 6.3% to QAR 206.18 million from QAR 193.88 million in 2016.
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