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QIMC looks to double stake in Qatar Plastic Products

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03/13/2018 | 06:30pm CEST

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.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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