Bawan's electrical subsidiaries USSG and Utec sign merger deal worth SAR 17 million

United Technology of Electric Substations and Switchgears Co. (USSG) signed a conditional agreement to merge into United Transformers Electric Co. (Utec), a deal worth SAR 17 million. The merger aims to enhance performance and reduce costs.

“The move aims at enhancing performance and reducing costs, since both companies have compatible business plans and activities.”argaam.com

• 1 source
• argaam.comBawan’s electrical subsidiaries ink SAR 17 mln merger dealJun 19, 2019

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