The Industrial Engineering Company for Construction and Development (ICON), a public company based in the Egyptian capital of Cairo has announced establishing a new subsidiary in Saudi Arabia with $1.5 million issued capital.
The new company will manufacture, deliver, and install prefabricated buildings and caravans, Mubasher reports, citing a bourse disclosure on Thursday.
In October, the company’s board of directors reportedly agreed to establish a company as per the regulating laws in the kingdom.
ICON, a subsidiary of Arab Contractors Company, manufactures steel-sheets and related products. It also offers sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units and corrugated sheets, galvanized tubes and pipes, and aluminum windows and doors, according to the Pitchbook.