Electrical Industries Electrical Industries signed an agreement to purchase the assets of Si-Guy Power Belgium with the judicial liquidator on Thursday at 5.044 million euros equivalent to about 22.7 million riyals.
According to Arab Net electrical industries have announced in negotiations with Judicial Liquidations in Belgium to conclude the Convention on the purchase of CIGIA assets, under filter, and begin the establishment of a limited liability company in Belgium.
The company said in a statement on Saudi trading on Sunday, on Sunday, the assets include making machines, stocks, design programs for mobile transformers, mobile stations, knowledge and technical property, as well as art information and technical designs.
The deal would be fined from the resources of the company and bank facilities available to banks.
Electrical industries reported that they would end the procedures for the establishment of Powers in Belgium, and after the completion of registration procedures will be transferred to Bowles for transformers and start operating the transformers and stations plant in Belgium.
The financial impact is expected to show the company's results within 2022.
She noted that the Convention did not include the parties with relevant.
