News

In Brief

March 2016

Adeptio, Americana ink deal

KUWAIT Food Company (Americana) said last month its board had agreed to give investment firm Adeptio 60 days to carry out due diligence for acquiring a controlling stake in the company.

Gulf-based Adeptio said it has signed an initial deal to buy a 69 per cent stake in Americana from the Al Khair holding company, which is owned by Kuwait’s Al Kharafi family.

Americana has a market capitalisation of about $2.95 billion.

 

Industrial zones planned

BAHRAIN needs 10 times the industrial land it has to cater to a growing demand in the sector, a senior official says.

Reclamation on an industrial zone in East Sitra will soon start to tackle the land shortage, said industry under-secretary Osama Mohammed Al Arrayedh.

It is among other planned zones coming up within the next three years.

The reclaimed land in East Sitra will be isolated from the residential area, said Al Arrayedh.

 

ORC opens new bottling line

OMAN Refreshment Company (ORC)’s newly launched polyethylene terephthalate (PET) bottling line will significantly enhance the company’s carbonated soft drinks bottling capacity.

ORC is the official bottling company in Oman for PepsiCo’s liquid range of beverages.

The company’s operations are designed to produce soft drinks in different pack sizes of cans, non-returnable glass bottles (NRB) and PET bottles.

The company said investment in the new line is part of its strategy to enhance  its customer propositions and strengthen customer preferences.

 

Batelco completes expansion

BAHRAIN-based telecommunications company Batelco has announced the completion of a major global network expansion project.

The project allowed the firm to grow its global business and deploy new Points-of-Presence (PoPs) around the world.

In 2015, Batelco formed strategic partnerships with high-calibre firms  such as asdatamena, China Unicom, Airtel and Turk Telecom.




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