Iraq’s MidPoint signs escalator deal with Saudi Arabia’s Mayar Holding in Iraq
Photo: Teemu Laukkarinen
Baghdad (IraqiNews.com) – Gulf Elevators and Escalators Co. Ltd. (GEEC), a subsidiary of Mayar Holding Co., and MidPoint General Trade and Commercial Agencies Co. in Iraq have signed an exclusive agency agreement.
As per Mayar’s statement to Saudi Arabia’s Tadawul, MidPoint will be responsible for marketing, selling, installing, and maintaining Mayar’s elevator and escalator items throughout all areas of Iraq throughout the 36-month contract.
The statement said that no connected parties are engaged in the arrangement and that the contract will have a favorable long-term financial impact starting in H1 2024.